Rather than cutting taxes for vulnerable households or providing transfers to those in need, governments have mostly resorted to broad-based tax cuts or subsidies, or to outright energy price caps. In addition, many measures support short-run fossil fuel consumption, thereby working against efforts to move away from fossil energy sources.
I would also like to take the opportunity to thank the staff members of the OeNB, and our friends at SUERF, for their effort in organizing this event. We are very pleased to organize this year’s Economic Conference jointly with SUERF – The European Money and Finance Forum.