Finance Ministry: The Grand Coalition Still Exists

Austrian Finance Minister Markus Marterbauer of the SPÖ is scheduled to present the government's budget for the next two years in parliament. He will be seated alongside Finance State Secretary Barbara Eibinger-Miedl from the ÖVP, who will initially remain silent during the minister's address but is expected to speak later.

The budget preparation reflects a unique dynamic within the Finance Ministry, characterized by a "red minister" and a "turquoise state secretary." This arrangement, established during government negotiations, was seen as necessary for the ÖVP to "keep an eye" on the ministry, especially after the nomination of Marterbauer, who is known for his left-leaning economic views. The partnership is described as a "miniature social partnership," bringing together individuals from vastly different backgrounds: Marterbauer, a former economist for the Chamber of Labour and an advocate of Keynesian and Piketty's theories, and Eibinger-Miedl, from a Styrian entrepreneurial family and affiliated with the Austrian People's Party's economic wing.

This unlikely pairing has reportedly forged a strong working relationship, with some government insiders crediting their collaboration as the key to successfully completing the budget negotiations. Their first meeting occurred on the day they were sworn into office, and despite their divergent economic philosophies, they have managed to navigate the complexities of fiscal policy together.

The first budget under the "Turquoise-Red-Pink" coalition was considered relatively straightforward, as many of its core components were already outlined during the government's formation. The concept of a budget being "politics cast in numbers" holds true, with fragments of the initial budget plans even stemming from previous negotiations between the ÖVP and the FPÖ, particularly concerning austerity measures required by Brussels. Finding potential savings was also easier during that period.