Chapter 50, Development

In the midst of chaos, the year 1850 quietly passed. What seemed like an ordinary year had a profound impact on Austria.

A massive influx of foreign capital poured into Austria, driving the development of the domestic economy, and factories sprouted up like bamboo shoots after rain.

The most direct impact of economic growth was the increase in government fiscal revenue. Despite the tax relief afforded to many industries, the government still gained a considerable amount of tax revenue from upstream and downstream segments.

In 1850, industrial and commercial tax revenue increased by eight percent compared to 1849, amounting to more than four million shields. Although this number did not seem large, Franz was very satisfied.

This was just the beginning. The end of the tax-exemption period would mark the explosive growth phase of tax revenue.