Full reinstatement of the Cost of Living Adjustment in the public and private sectors

 

Statement AKEL Political Bureau member and Head of the Economy Sector of AKEL, Haris Polycarpou

18 November 2021, AKEL C.C. Press Office, Nicosia

Today’s statistics on inflation in Cyprus and the European Union are damning of the government’s initial estimates. They confirm in the clearest possible way the sloppiness and frivolity with which the Anastasiades-DISY Government has dealt with the problem of inflation to date.

We express the hope that the change of attitude of the government on the issue of reducing VAT on electricity from 19% to 9% and the submission of a demand to the EU’s competent committee will be followed up.

At the same time we recall that such measures are important, but they also need to be accompanied by measures to support the income of households.

Measures such as the full reinstatement of the Automatic Cost of Living Adjustment as a mechanism to restore the market value of wages in the public and private sectors.