How long will people continue to pay for the state and the banks to grow richer?

How long will people continue to pay for the state and the banks to grow richer?

2 July 2024, AKEL C.C. Press Office, Nicosia

How the Christodoulides Government is handling the issue of price increases and expensiveness is a huge provocation for society. Without any comprehensive planning, returning crumbs back to society, the government permits the state, together with the banks and energy companies, to grow richer while the people continue to pay the cost and not make ends meet.

Yesterday’s announcements by the Statistical Office about a State surplus of half a billion Euros for the first five months of the year, as well as the debate in Parliament on AKEL’s proposal for the approval of a bill proposal to impose an extraordinary solidarity fee on the banks – which will be returned through social policies – show that the financial potential for supporting households and businesses does exist. What is lacking is the political will on the part of the government.

Instead of the Minister of Finance indulging in celebrations about the economy’s course and issuing pleas to no avail to the banks, he should at long last give an answer to the following questions:

Will he tax the banks’ windfall revenues, giving back to borrowers a portion of what they are paying for every day?

Will he support society as a whole in the face of price increases, or will it continue to offer crumbs?

Will he at long last implement the notorious interest rate subsidy announced last November for mortgage interest rate subsidies or will it remain yet another announcement hidden in the drawers of governmental callousness?

02.07.2024