A comprehensive plan with depth and duration is demanded to combat the ongoing price increases

 

Statement by AKEL C.C. member Vakis Charalambous

3 November 2023, AKEL C.C. Press Office, Nicosia

The increase in prices is ongoing which continues to put pressure on a large section of society.

The Statistical Office confirms that price increases in basic goods and essentials are here to stay.

Short-term relief measures are necessary – but not enough and not sufficient on its own to address the problem of price increases and the very high cost of borrowing.

Bold decisions and measures are needed. What is needed is a comprehensive plan with depth and duration that provides a real shield of protection.

After all, the State has collected additional revenues of EUR 2.5 billion over the last two years from taxpayers’ pockets, returning a very small amount, below the European average.

The government has a responsibility to set the following priorities:

• The implementation of reforms in the energy sector, in particular the arrival of natural gas, the penetration of renewable energy sources, energy storage and the modernization of the distribution and transmission network.
• Increasing the disposable income of working people through improved wages, indexation of the minimum wage and expanding collective agreements to cover working people.