AKEL poses the question: With society or with the banks?

AKEL’s tables again a proposal to tax banks’ super profits

 

21 November 2025, AKEL C.C. Press Office, Nicosia

AKEL resubmits a proposal for the taxation of banks’ super profits, aiming to provide support to society.

In recent years, households and businesses have been paying a heavy price due to soaring borrowing costs, at the same time as the banks have been recording huge super profits.

AKEL’s proposal is being submitted as a result of the Government’s inaction to support borrowers and is based on policies that have been successfully implemented in other EU countries, without affecting economic stability, which besides has also been confirmed in a recent report published by the European Commission.

AKEL’s previous effort was not approved because the banking lobbies prevailed (in the vote in parliament).

Now, the political parties have a second chance to prove whether they stand on the side of society or big interests.