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Frank Stronach could leave parliament next week

Stronach to retire this week with farewell speech

Frank Stronach will give a farewell speech in Parliament on Wednesday, signifying his retirement from the National Council after a whirlwind year and a half in Austrian politicians.

The 81-year-old Austrian-Canadian billionaire will remain Chairman of party Team Stronach, which he founded 16 months ago out of frustration with the country's politics.

However, he will look to live out his retirement in Canada where his family lives and will no longer fund the party from his own pocket. He had already invested around 11 billion Euros in his campaign but only managed to receive a disappointing 6% of the votes on election day last September.

Initially popular with voters for his attacks on 'big government', Stronach lost support after a few car crash TV appearances where he voiced support of capital punishment amongst other controversial policies.

Despite this, he hopes he is still leaving a positive legacy. "I've taken it very seriously, and I hope, that the Austrians will tell sooner or later that Frank Stronach was a good person, he has contributed something to the change in Austria," he said.

State Chairman of Burgenland for Team Stronach Rouven Ertlschweiger will replace Stronach in the National Council. Ertlshweiger has said it's now time for the party to become 'fully-fledged'and establish priorities in socio-economic issues.

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