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Thursday, January 3, 2013

Believe it... Or Not

A little while ago I wrote about the negligible sum of 445 Million Euros, which the Province of Salzburg received from the Federal Government for the express purpose of building homes, but which nobody could find. This amount was transferred from Vienna to Salzburg, destined for the Building Fund, but it never arrived there. 
Hurray... they found the money: Our dear Monica, she of the Investment Magic, grabbed the money, and invested it in "Value Papers"...  The Provincial Auditors now say that they do not know what value these papers actually have. ( I can only hope that they have a value of at least 445 Million Euros).
It will take until 16th January to find out what the current value might be.
It now seems to have been a 'rope towing' between Monica and her superiors for some time. Certain instructions were given to Monica, with which she did not agree and which she therefore disregarded, doing her own thing, which was meant to be making money for the Province, but which actually turned out to be the very opposite. In e-mail exchanges which now were discovered she argues against certain instructions, saying that she understands the financial affairs of the Province "with every fibre of my body."... and that she would "give my life" for Salzburg' financial well being.
Let me repeat here, that there is no suggestion of misappropriation of funds for her own benefit.
She, and everybody else, simply overestimated to a staggering extent, her ability to read the money market and to invest taxpayers money wisely.

I have asked this question several times, but have not received a satisfactory answer:
If the governments, Federal and Provincial, have so much money that they can invest it in value papers which always demand a certain length of time of the investment, why don't they just give back to the taxpayers the moneys not needed for the operation of the country, by way of reducing the overall future tax burden ?
They would be surprised at how quickly the Country, the Province, would prosper.
Lower taxes would inevitably mean a growth of the Economy, requiring more employees, thereby reducing unemployment rates (which, it must be stated, in Austria are the lowest in all of the European Union but could easily stand a further reduction), producing more goods which could be sold in foreign markets, thereby attracting funds into Austria from other countries.
I am certain that the average entrepreneur could invest his money more wisely than our famous Monica.
The average entrepreneur would invest his money in new machinery, more employees and thereby create an economic environment far superior to that any Civil Servant could create.

I fear, however, that I am tilting at wind mills. No Government will ever give back money to the taxpayer.
Governments always find ways to spend taxes... that's what they are here for... and if no other opportunity presents itself, they will play with taxpayers fund as if it were Monopoly Money.

When finally is average taxpaying citizen, Joe Bloe and Jane Doe, going to rise up and shout:

ENOUGH...  ..ENOUGH...  More than ENOUGH....???

If ever they would, 
Bertstravels would give them a megaphone....






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