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Empresas y finanzas

Austrian finance minister quits in tax reform row


    VIENNA (Reuters) - Austrian Vice Chancellor, Finance Minister and party leader Michael Spindelegger unexpectedly resigned from all his posts on Tuesday, citing lack of support from his conservative People's Party (OVP) in a row over tax reform.

    The OVP has been at loggerheads with its senior coalition partner, Chancellor Werner Faymann's Social Democrats, over how to finance income tax cuts to give a boost to the economy.

    Spindelegger, who became finance minister last year after the coalition partners barely maintained a majority in elections, has also faced an internal revolt over his refusal to cut taxes unless that can be financed without new levies.

    "There has to be cohesion in a party. If the cohesion is no longer there, then the moment has come to hand over the tiller," he told a snap news conference to announce his resignation.

    The 54-year-old lawyer from Lower Austria filled an OVP leadership vacuum in 2011 when his predecessor had to step down for health reasons.

    Spindelegger was foreign minister before taking over the finance ministry portfolio.

    (Reporting by Michael Shields and Angelika Gruber; Editing by Louise Ireland)