The government is making financial reserves while society is suffering from galloping price hikes

 

Statement by the AKEL C.C. member Vakis Charalambous

1 September 2022, AKEL C.C. Press Office, Nicosia

Since last January, the massive revenues of the state have reached €862 million due to the price hikes and increased state revenues from taxes. The government, itself, has estimated that by the end of the year the increased revenues will exceed €1 billion.

It is clear that the government ruling forces are once again watching from a distance, even though they have both the ability and the tools to provide relief to society. They are ignoring the European acquis, such as the taxation of excess profits in the energy sector. They reject the proposals AKEL has submitted and the decisions approved by Parliament, such as the reduction of taxes on electricity and fuel.

The recent announcement by the Statistical Office on the increase in state revenues confirms the obvious. The government collects from the people’s savings, but does not return them. It is making financial reserves and handing out pledges while society is suffering from the galloping price hikes.