Austria's political leaders are grappling with a significant budget shortfall, sparking intense discussions among the ÖVP, SPÖ, and Neos parties.

The budget deficit, estimated between 15 and 23 billion euros, has led to calls for both spending cuts and potential tax increases.

ÖVP leader Karl Nehammer has not ruled out tax hikes, including a possible increase in property taxes, despite internal party skepticism.

The SPÖ insists on clarity regarding budget figures, while the Neos suggest negotiations can proceed without them.

Fiscal Council President Christoph Badelt emphasizes that both reforms and tax increases are necessary to address the fiscal gap.

The parties aim to reach a consensus on the economic and budgetary situation to guide future decisions.