The foundation is scheduled to start work in early 2021, with a focus on 10 to 14 year olds.
What is the difference between net and gross? Or between sales and profit? What is inflation Or what do stock indices show?
Numerous studies have shown that the knowledge of Austrians about essential questions of economic life is limited. It should no longer stay that way, at least for future generations: “In the times in which we live, health is particularly important. But immediately after that comes economic health, ”says Andreas Treichl, former head of Erste Group.
Seven partner organizations now want to improve economic and financial education in Austria with a new foundation. 1.4 million euros per year are available for analyzes, pilot projects, support measures for teachers and awareness-raising in schools, according to a virtual press conference on Tuesday.
1.4 million budget
Everyone is pooling: AK, IV, Chamber of Commerce, Erste Foundation, Innovation Foundation for Education, MEGA Education Foundation and National Bank each contribute 200,000 euros per year for three years. There is then an option to renew.
However, it is not yet clear what will actually happen with the funds available. The foundation is scheduled to start work in early 2021, with a focus on 10 to 14 year olds.
Education Minister Heinz Faßmann is also behind the project. He believes in a strong state that can do a lot, said the minister when the foundation was founded. “But he can not always do everything.”
