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Paul Almeida: My European Favourites in 5 – 4 – 3 – 2 – 1!
Salzburg, Austria by Paul Almeida
Salzburg is one of my favourite mid-sized cities in Europe and Austria’s fourth largest city, with only about 150,000 residents. Geographically, it lies at the foot of the Eastern Alps, close to the German border and is bisected by the Salzach River. The compact old town, with medieval and baroque architecture is classified as a UNESCO World Heritage Site and is easy to explore on foot. Salzburg is visited annually by millions of tourists from around the world and our Azorcan tour groups often list it as a favourite stop.
Salzburg, Austria
5 FUN FACTS
Salzburg literally means “Salt Fortress.” The reigning Prince-Archbishops, the city and the region became wealthy mainly from the salt mines in the area, trade and some gold mining. Don’t miss the opportunity to visit a salt mine in the area to learn more about the extraction of the “white gold.”
The 11th century Hohensalzburg is one of the largest and best preserved medieval fortresses in Europe. You can walk up the path to the fortress or you can take the Festungsbahn funicular railway located just off the Kapitelplatz. From the fortress, you can enjoy some of the best views of the city and the surrounding area.
Composer Wolfgang Amadeus Mozart was born on January 27, 1756 in Salzburg, and you can visit his birthplace which is also a museum. You can’t miss the bright yellow building at No. 9 Getreidegasse with “Mozart’s Gebursthaus” in gold letters on the façade. The Getreidegasse is a pedestrian street with shops and restaurants. The ornamental wrought iron signs on the building facades harken back to medieval times. The Schlosserei Wieber shop on the Getreidegasse is a traditional metalworking shop that also continues to make these signs. The city celebrates Mozart Week festival in January around his birthday. A friend once joked that “Mozart was my favourite composer, now he’s my favourite decomposer.”
Hohensalzburg Fortress, Mozart’s Gebursthaus and the metal signs on the Getreidegasse
The famous Salzburg Festival, established in 1920 and which features some of Mozart’s works, is held each summer for five weeks starting in late July. With approximately two hundred drama, concert, and opera events and a quarter of a million visitors, it is a huge undertaking and an important driver of the local economy. The festival celebrated its 200th anniversary in 2020 but unfortunately plans had to be scaled back due to the corona virus pandemic.
The Rodgers and Hammerstein musical, “The Sound of Music,” about the Von Trapp family was set in Salzburg and movie fans love to search out film locations in the city.
Some of the most popular places to seek out are St. Peter’s cemetery, the Mirabell Palace and gardens with the Pegasus fountain, the Horse Pond, the Residence Square with it’s baroque fountain, Schloss Leopoldskron and the Nonnberg Abbey. The Rock Riding School, which was initially built to be a cathedral but was changed to a riding school by the Prince-Archbishop, later became Salzburg’s favourite concert venue. This is where the real Von Trapp family won the 1936 Salzburg Music Festival. There are other film locations located in the surrounding areas and there are tours that focus on the Von Trapp’s and the movie.
Mirabell Gardens, Makartsteg Bridge and the view of the old town from the Mochsberg
4 POINTS OF INTEREST
A walking tour of Salzburg usually starts at the Mirabell Palace gardens. The Palace was built by a Prince-Archbishop in 1606 and has a grand marble hall that is popular for weddings. The view from the palace’s gardens to the Hohensalzburg fortress in the summer when the geometrically laid flowers are in bloom is amazing. The Grand Fountain in the centre of the garden with four mythological statues representing the elements (Fire, Air, Earth, Water), the Dwarf Garden, and the Pegasus Fountain are popular photo stops. The best way to cross the Salzach river to the old town from the Mirabell gardens is the pedestrian Makartsteg Bridge which is usually adorned with numerous “love locks.” The locks are inscribed with the lovers initials, attached to the fencing and the key thrown into the Salzach.
As you cross the river to the old town (Altstadt), go to the right and you will find the Monchsberg lift which takes you up to the Museum of Modern Art (Museum der Moderne). The café at the museum is a great place to have a cappuccino and cheese strudel as you admire the view of the old town. The Monchsberg, which was named after the Benedictine monks, is one of five mountains or hills in Salzburg. The Monchsberg plateau has a hiking path through the forest that you can take and enjoy scenic views all the way to the Hohensalzburg fortress. The city has a mountain inspector’s office (Bergputzer) to check the mountain for possible falling rocks. In 1669, an avalanche of rock landed on the city below and killed over 200 people.
On the University Square (Universitatplatz), you will find the Grünmarkt or green
Market that goes back to the 18th century. The farmers market still has vendors selling fruit, vegetables, cheeses, meats, breads and pastries. It’s a great place to sample local products, or grab a quick lunch or a pretzel. The Kollegienkirche or University church dominates the square, and there are several historic buildings surrounding the lively square.
Pretzel kiosk on University Square, Residence Square and the Salzburg Cathedral>
A short walk from the University Square will take you past the Alter Markt square with the St. Florian Fountain and into the expansive Residence Square (Residenzplatz). The square has a magnificent baroque fountain decorated with four horses snorting water, giants, dolphins and a triton. Here is where you can find horse drawn carriages to enjoy the city centre at a leisurely pace. The Residence museum on the square is a testament to the immense wealth and political power of the Prince-Archbishop’s of Salzburg. The lavish state rooms and painting collection make it a top attraction. The 17th century baroque Salzburg Cathedral or Dom on the square is connected to the Residence. The Cathedral has religious relics of St. Rupert, an impressive pipe organ, plus an ornate ceiling and dome. The baptismal font is the same one used to baptize Mozart.
3 INTERESTING ACTIVITIES
To fully understand the significance of salt to the fortunes of Salzburg take a short trip to the Salzbergwerk Dürrnberg, which is located on the Dürrnberg above the town of Hallein. After supplying you with miner’s overalls, you will go by rail deep into the mountain where you will walk through the tunnels, go down two long slides and take a raft trip across an underground salt lake. The very informative tour explains the history of the mine from the age of the Celts to modern mining methods. After the tour be sure to visit the SALINA Celtic village to see how life was 2,600 years ago.
The Red Bull Hanger 7 at the Salzburg Airport is an impressive glass structure that houses the Flying Bulls historical airplane and helicopter fleet plus a collection of Formula 1 race cars. Austrian Red Bull founder and billionaire Dietrich Mateschitz is the owner of the hanger and the collection. If you like cars or planes, this is a must stop when you visit Salzburg or have a layover at the airport.
Going into the Salt Mine, a Red Bull concept race car and inside the Hanger 7
The imposing 900 year old medieval Hohenwerfen Castle, surrounded by the Berchtesgaden Alps, is located about 40 km south of Salzburg and overlooks the town of Werfen. A funicular takes you from the parking area up to the castle’s interior courtyard. The castle has an extensive weapons exhibit. The main event is a birds of prey demonstration from the Salzburg Falconry Center in the exterior courtyard with falcons, kites, vultures, and eagles. Some of these birds are huge and have no problem walking amongst the spectators. Be sure to check the daily times of the demonstrations in advance.
The impressive Hohenwerfen Castle, the courtyard and a large eagle
2 LOCAL DISHES TO ORDER
Tafelspitz is a popular Austrian dish of veal and vegetables that is simmered slowly. The broth is served separately as a first course then the veal and root vegetables are accompanied by apple-horsradish and chives.
Salzburger Nockerl was invented in Salzburg in the 17th century. Nockerl are vanilla flavoured dumplings dusted with powdered sugar and served with fruit jams or sauces. The warm dumplings arrive in three mounds to represent the three hills that surround Salzburg.
A Salzburger Nockerl, the Augustiner Brewery and their beer gardens
1 BEVERAGE TO ENJOY
There are eleven breweries in Salzburg, and the city is known as Austria’s beer capital. The Stiegl brewery has been privately owned since 1492. The Stieglkeller, located below the Hohensalzburg fortress, is a restaurant and beer garden that offers great views of the old town.
Established in 1621, the Augustiner Brau brewery and tavern is the biggest in Austria with indoor seating and a beer garden. In addition to great beer, you can purchase traditional dishes from food stands located inside the hall or the brewery.
Salzburg is a university town and has a lively café, beer garden and nightlife scene.
In addition to Mozart Week and the Salzburg Music Festival locals celebrate Fasching, Easter and harvest festivals. Salzburg’s Christmas markets are very popular and some shops in the old town specialize in Christmas.
Paul Almeida is the President of Azorcan Global Sport, School and Sightseeing tours and his company has taken thousands of people to Europe on custom group tours since 1994.
Visit azorcan.net to see all our custom group tour possibilities and to see our signature sport, sightseeing and sport fan tours individuals can now join.
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Images compliments of Paul Almeida and Azorcan Tours.
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From the Fraser Institute
By Niels Veldhuis and Jake Fuss
Labour productivity isn’t growing, it’s declining. And stretching the analysis over the Trudeau government’s time in office (2015 to 2023, omitting 2020 due to COVID), labour productivity has declined by an average of 0.8 per cent. How can the Trudeau government, then, base the entirety of its budget plan on strong labour productivity growth?
As the federal budget swells to a staggering half a trillion dollars in annual spending—yes, you read that correctly, a whopping $538 billion this year or roughly $13,233 per Canadian—and stretches over 430 pages, it’s become a formidable task for the media to dissect and evaluate. While it’s easy to spot individual initiatives (e.g. the economically damaging capital gains tax increase) and offer commentary, the sheer scale and complexity of the budget make it hard to properly evaluate. Not surprisingly, most post-budget analysts missed a critically important assumption that underlies every number in the budget—the Liberals’ assumption of productivity growth.
Indeed, Canada is suffering a productivity growth crisis. “Canada has seen no productivity growth in recent years,” said Carolyn Rogers, senior deputy governor at the Bank of Canada, in a recent speech. “You’ve seen those signs that say, ‘In emergency, break glass.’ Well, it’s time to break the glass.”
The media widely covered this stark warning, which should have served as a wake-up call, urging the Trudeau government to take immediate action. At the very least, this budget’s ability—or more accurately, inability—to increase productivity growth should have been a core focus of every budget analysis.
Of course, the word “productivity” puts most people, except die-hard economists, to sleep. Or worse, prompts the “You just want us to work harder?” questions. As Rogers noted though, “Increasing productivity means finding ways for people to create more value during the time they’re at work. This is a goal to aim for, not something to fear. When a company increases productivity, that means more revenue, which allows the company to pay higher wages to its workers.”
Clearly, labour productivity growth remains critical to our standard of living and, for governments, ultimately determines the economic growth levels on which they base their revenue assumptions. With $538 billion in spending planned for this year, the Trudeau government better hope it gets its forecasts right. Otherwise, the $39.8 billion deficit they expect this year could be significantly higher.
And here’s the rub. Buried deep in its 430-page budget is the Trudeau government’s assumption about labour productivity growth (page 385, to be exact). You see, the Liberals assume the economy will grow at an average of 1.8 per cent over the next five years (2024-2028) and predict that half that growth will come from the increase in the supply of labour (i.e. population growth) and half will come from labour productivity growth.
However, as the Bank of Canada has noted, labour productivity growth has been non-existent in Canada. The Bank uses data from Statistics Canada to highlight the country’s productivity, and as StatsCan puts it, “On average, over 2023, labour productivity of Canadian businesses fell 1.8 per cent, a third consecutive annual decline.”
In other words, labour productivity isn’t growing, it’s declining. And stretching the analysis over the Trudeau government’s time in office (2015 to 2023, omitting 2020 due to COVID), labour productivity has declined by an average of 0.8 per cent. How can the Trudeau government, then, base the entirety of its budget plan on strong labour productivity growth? It’s what we call a “fudget budget”—make up the numbers to make it work.
The Trudeau fudget budget notwithstanding, how can we increase productivity growth in Canada?
According to the Bank of Canada, “When you compare Canada’s recent productivity record with that of other countries, what really sticks out is how much we lag on investment in machinery, equipment and, importantly, intellectual property.”
Put simply, to increase productivity we need businesses to increase investment. From 2014 to 2022, Canada’s inflation-adjusted business investment per worker (excluding residential construction) declined 18.5 per cent from $20,264 to $16,515. This is a concerning trend considering the vital role investment plays in improving economic output and living standards for Canadians.
But the budget actually hurts—not helps—Canada’s investment climate. By increasing taxes on capital gains, the government will deter investment in the country and encourage a greater outflow of capital. Moreover, the budget forecasts deficits for at least five years, which increases the likelihood of future tax hikes and creates more uncertainty for entrepreneurs, investors and businesses. Such an unpredictable business environment will make it harder to attract investment to Canada.
This year’s federal budget rests on fanciful assumptions about productivity growth while actively deterring the very investment Canada needs to increase living standards for Canadians. That’s a far cry from what any reasonable person would call a successful strategy.
Authors:
From the Fraser Institute
By Tegan Hill
If the Smith government reversed the 2015 personal income tax rate increases and instituted a flat 8 per cent tax rate, it would help restore Alberta’s position as one of the lowest tax jurisdictions in North America
Over the past decade, Alberta has gone from one of the most competitive tax jurisdictions in North America to one of the least competitive. And while the Smith government has promised to create a new 8 per cent tax bracket on personal income below $60,000, it simply isn’t enough to restore Alberta’s tax competitiveness. Instead, the government should institute a flat 8 per cent personal and business income tax rate.
Back in 2014, Alberta had a single 10 per cent personal and business income tax rate. As a result, it had the lowest top combined (federal and provincial/state) personal income tax rate and business income tax rate in North America. This was a powerful advantage that made Alberta an attractive place to start a business, work and invest.
In 2015, however, the provincial NDP government replaced the single personal income tax rate of 10 percent with a five-bracket system including a top rate of 15 per cent, so today Alberta has the 10th-highest personal income tax rate in North America. The government also increased Alberta’s 10 per cent business income tax rate to 12 per cent (although in 2019 the Kenney government began reducing the rate to today’s 8 per cent).
If the Smith government reversed the 2015 personal income tax rate increases and instituted a flat 8 per cent tax rate, it would help restore Alberta’s position as one of the lowest tax jurisdictions in North America, all while saving Alberta taxpayers $1,573 (on average) annually.
And a truly integrated flat tax system would not only apply a uniform tax 8 per cent rate to all sources of income (including personal and business), it would eliminate tax credits, deductions and exemptions, which reduce the cost of investments in certain areas, increasing the relative cost of investment in others. As a result, resources may go to areas where they are not most productive, leading to a less efficient allocation of resources than if these tax incentives did not exist.
Put differently, tax incentives can artificially change the relative attractiveness of goods and services leading to sub-optimal allocation. A flat tax system would not only improve tax efficiency by reducing these tax-based economic distortions, it would also reduce administration costs (expenses incurred by governments due to tax collection and enforcement regulations) and compliance costs (expenses incurred by individuals and businesses to comply with tax regulations).
Finally, a flat tax system would also help avoid negative incentives that come with a progressive marginal tax system. Currently, Albertans are taxed at higher rates as their income increases, which can discourage additional work, savings and investment. A flat tax system would maintain “progressivity” as the proportion of taxes paid would still increase with income, but minimize the disincentive to work more and earn more (increasing savings and investment) because Albertans would face the same tax rate regardless of how their income increases. In sum, flat tax systems encourage stronger economic growth, higher tax revenues and a more robust economy.
To stimulate strong economic growth and leave more money in the pockets of Albertans, the Smith government should go beyond its current commitment to create a new tax bracket on income under $60,000 and institute a flat 8 per cent personal and business income tax rate.
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