The money from the federal government aims at helping the country’s residents cope with the rising inflation rate, as well as counterbalance the increasing costs of daily living.
Since last week, official representatives started to transfer a €180 allowance per child directly into the family’s account under the name of “special family payment”, ÖVP government members Susanne Raab and Magnus Brunner have announced.
“The payment happens automatically, the money comes into the account with the normal family allowance (Familienbeihilfe)”, Raab explained.
In Austria, every resident child benefits the Familienbeihilfe, a monthly social benefit automatically paid by the government until they turn 24. Amounts can reach up to €165.10 per person per month.
With the latest move aiming to support people, the government will spend around €340 million.
“Around 1.8 million children in 1.1 million families will benefit”, Raab added.
More measures will follow, including cutting taxes and offering one-off welfare payouts, as inflation in Austria went up to a record high of 9.2 percent in July.
The next step is expected for September, when vulnerable citizens will be transferred a one-off €300 payment (Teuerungsausgleich) as compensation from the state, while in October everyone in Austria will receive the €500 assistance (€250 as a climate bonus – Klimabonus and €250 as the Teuerungsbonus helping people fight rising costs of daily living).