Austria is currently considering a significant new initiative for its families. A proposed €500 state-funded initial payment could kickstart the tax-free Children’s Zukunftsdepot, an investment account designed to help parents save for their offspring.
Family Minister Claudia Bauer confirmed that specific details of the scheme remain under negotiation. Parents would have the option to pay into the account from a child’s birth. However, funds could only be withdrawn once the child reaches 18 years of age. Annual deposits are capped at €5,000. Significantly, the account would be exempt from Austria’s capital income tax and account maintenance fees until adulthood. The coalition government has agreed in principle to introduce this Zukunftsdepot. Nonetheless, financing details are still being finalized. A budget of €40 million has been earmarked for potential starting balances over each of the next two years. These funds are expected to come from the Family Burden Equalisation Fund.
Meanwhile, new statistics reveal a growing trend in Austria’s labor market. Part-time employment increased in the second quarter of 2026. Roughly 1.45 million people now work part-time out of approximately 4.5 million employed individuals. The national part-time employment rate rose by 1.3 percentage points, reaching 32.1 percent. Among women, the rate climbed by 1.4 percentage points to 51.1 percent. For men, it saw an increase of 0.9 percentage points, now standing at 14.8 percent. The country recorded 57,200 more part-time workers compared to the previous year. Conversely, full-time employment decreased by 57,400 during the same period. This trend towards part-time work is accelerating once again after a decline in 2025.
Furthermore, Austria’s energy mix shows a strong commitment to green power. Renewable energy sources comprised 87.34 percent of the nation’s electricity labelling mix in 2025. This marks an increase from 86.52 percent a year earlier. No nuclear-energy guarantees of origin were utilized in the electricity labelling. Approximately 65 percent of the guarantees of origin originated within Austria. This figure represents a slight drop from 71.35 percent the previous year, primarily due to lower domestic hydropower production. Hydropower itself accounted for 55.49 percent of the renewable guarantees used. Wind energy followed at 15.75 percent, with solar energy contributing 10.61 percent. By contrast, gas labelling presented a very different picture. The origin of 94.47 percent of natural gas delivered to end customers was listed as unknown.
Separately, Vienna authorities have issued an urgent warning about a phishing SMS scam. This text message falsely claims a housing benefit application has been received. It then directs recipients to a fraudulent link, which does not belong to the City of Vienna. Residents are advised not to click the link or enter any personal, login, or bank information. The authorities emphasize that the message is fake and did not originate from city offices. Anyone receiving this message should delete it immediately. Individuals who have already clicked the link or submitted details should take immediate security measures. Contacting their bank is also recommended if necessary. For verification or concerns, residents can contact Vienna’s housing benefit office directly at +43 1 4000-74880.
Finally, Friday brings several local developments to Vienna. Unemployment-related benefits for August are scheduled for bank-account payment today. The federal Sommerschule programme concludes in Vienna, Lower Austria, and Burgenland. Regular school holidays continue until Sunday in these regions. Major rail disruption persists in and around the capital. S-Bahn trains are suspended between Praterstern and Floridsdorf until September 6th, with replacement services in operation. Vienna’s education authorities are also set to provide an update on the new kindergarten and school year today. The city can expect another hot day, with temperatures potentially reaching 32C. Vienna also celebrates its Lange Nacht der Wiener Märkte this evening. Seventeen permanent markets and three weekly markets will host free cultural and entertainment programming from 6 pm to 11 pm.
