Austria: $1.9B relief package to offset rising energy prices

VIENNA (AP) — Austria will subsidize household energy costs with a $1.9-billion relief package to offset rising prices. Chancellor Karl Nehammer announced on Friday that the package consists of both direct subsidies and tax suspensions. Almost half will be spent on suspending an “eco-tax” introduced in 2012 that amounted to about roughly 33 euros per year in 2016. At the same time the government will hand out a one-time payment of 300 euros to jobless people, twice the sum agreed upon last December. According to the Austrian Energy Agency, prices for domestic fuel oil have risen 44.3% compared to last year, while diesel fuel has jumped 33.9%. Electricity prices are up 12.4 %.