Press Conference by the General Secretary of AKEL  St.Stefanou on the 24 May Parliamentary Elections

 

14 May 2026, AKEL C.C. Press Office, Nicosia

TOGETHER WITH SOCIETY. LET’S STAND UP TO POWERFUL INTERESTS

Over the past five years, the AKEL-Left-New Forces Parliamentary Group has not sought merely to be better, but to be fundamentally different from the rest. We have acted by steadfastly being guided by the needs of the overwhelming social majority, not the interests of the few and the privileged. With consistency, clear positions, and political action that has always been focused on working people, the middle strata, young generation, pensioners, and the vulnerable groups of the population , we have aimed to:

• address expensiveness and the cost-of-living crisis,
• create prospects for the young generation of this country,
• strengthen the rule of law, transparency, human rights, and democracy.

WHAT WE ACHIEVED

Work and Dignity

AKEL took the lead in protecting working people during a period of intense job insecurity. We achieved:

• the enshrinement of the right to disconnect for employees working remotely.
• the protection of workers from exhausting working conditions,
• the mandatory training for workers on health and safety issues,
• legislation regulating standing at the workplace,
• improved rights for teachers on indefinite contracts (precarious).

Social protection and human rights

AKEL has waged struggles for a society with greater protection and fewer inequalities. We have achieved:

• free legal aid for women who are victims of gender-based and domestic violence,
• ‘right to be forgotten’ for cancer survivors while accessing financial credit services,
• the criminalization of revenge porn,
• the criminalization of child pornography material using artificial intelligence,
• the extension of parental leave and maternity leave from 18 to 24 weeks.
• maintaining the single-parent allowance for cohabiting couples.

Expensiveness – Energy

Amid the expensiveness crisis, AKEL is the force demanding substantive measures be taken in favour of citizens. Among our achievements, we highlight:

• the amendment to the legislation allowing for the imposition of price caps on petroleum products during times of crisis,
• we put pressure that ultimately led to a reduction in the VAT on electricity,
• the suspension of the imposition of ‘green’ taxes.

Environment and Public Interest

AKEL does not accept a “green transition” that sacrifices agricultural land, the environment, and society. Among other things, we have achieved:

• a ban on the installation of photovoltaic systems on fertile agricultural land,
• the safeguarding in the constitution of the right to a healthy and sustainable environment,
• protection of the public interest and transparency in the management of state resources.

I note here that the majority of the House of Representatives did not vote in favour of AKEL’s bill proposal to revoke unused renewable energy permits. This fact represents a blatant act of serving private interests at the expense of the public interest.

WHO WE CLASHED WITH

Over the past five years, the AKEL Parliamentary Group has not confined itself to the role of an observer. We have waged battles –  both inside and outside the House of Representatives. We clashed with the unchecked power of the banks, powerful financial interests, profiteering in the energy sector, with government policies that widen inequalities, and the notion that the market must operate without social rules. We exerted pressure on the government. We submitted proposals. We won gains for society. And when they stopped us, it became clear who really serves the many and who serves the privileged few.

Because ultimately, in Parliament—and in politics in general—it is not just bills or legislative proposals that are judged. What is judged first and foremost are the different perceptions of society and the economy.

• We introduced a bill proposal for the taxation of the banks’ windfall profits so that the revenues would be returned to society and to the borrowers who were brought to their knees by interest rates and expensiveness. Because while citizens were counting their euros, some were raking in windfall profits. And yet, our bill proposal was rejected by a single vote, by those who deliberately chose to act as the banks’ bodyguards.

We also submitted proposals:

• to tax the windfall profits of renewable energy companies,
• to tax real estate property of very high value,
• to impose a fair, proportional, and graduated system of annual fees on registered companies with significant assets

In recent years, the President of the Republic has on several occasions referred legislation passed by the House of Representatives in favour of society to the Supreme Constitutional Court and/or brought it before the Court.

We saw this in our proposals concerning:

• the right of borrowers to seek justice in cases of over-indebtedness and the application of unfair terms
• the reduction of VAT on electricity,
• legislation regarding teachers on indefinite contracts,
• regulations on the allocation of state-owned land,
• the installation of timers on traffic lights controlled by the traffic light control system.

Even there, however, pressure from AKEL has often forced the government to adopt measures it initially rejected. This proves that the stronger AKEL is, the greater the pressure it can exert on behalf of society.

OUR FIRST FIVE INITIATIVES

In the new Parliament, AKEL – Left – Social Alliance will continue its struggle for society. Today we present our first initiatives in five areas that we will undertake from the start of the new parliamentary term

1. From the few to the many

The first area of action falls under the title “From the few to the many.” To explain the rationale behind this approach, let me first refer to a recent study conducted by the European Commission, the heart of the EU, entitled “Wealth Taxation, Including Net Wealth, Capital and Exit Taxes,” which notes that wealth inequality is rising in a number of member states. In Cyprus, this trend is even more pronounced, as the top 10% of households recorded some of the biggest increases in wealth concentration across the EU, now holding 67% of total wealth.

• According to the same study, with a projected annual tax rate of 2% on the net wealth of those exceeding €100 million, Cyprus could collect €1.2 billion annually, of which €800 million would come from billionaires. With a 3% rate, according to the European Commission, Cyprus could collect €2.1 billion, of which €1.2 billion would come from billionaires.

We will therefore continue to pursue the taxation of wealth for the benefit of society and to support citizens in the face of rising costs. As a result of this action, the state can secure the necessary resources to implement social policies and programs.

AKEL has already submitted draft laws that it will push for a vote:

• the proposal to tax banks’ super profits. The revenues will be directed toward support schemes in the form of financial incentives or grants, for: (a) covering borrowing costs for new and existing home purchase loans for primary residences, (b) supporting vulnerable borrowers.
• the proposal to tax the super profits of renewable energy companies: channelling the revenues to strengthen measures seeking to combat energy poverty (subsidies for vulnerable consumers, subsidies for price increases, targeted measures for energy upgrades, etc.)
• taxation of high-value real estate property (0.1% on properties valued at over 3 million euros). Cyprus is one of the very few countries in the world that does not impose a property tax.

2. Housing – Real estate purchases by third-country nationals

The uncontrolled purchase of real estate property and land by third-country nationals and companies with foreign interests now directly affects the housing reserves and contributes to skyrocketing real estate prices and rents.

AKEL will request that the draft laws it has submitted and which have been discussed in the Parliamentary Committee on Internal Affairs be sent to the Plenary for a vote. These proposals:

• close loopholes involving companies and assignments,
• limit the mass accumulation of real estate property,
• prohibit the purchase of agricultural and forest land,
• protect critical areas and infrastructures,
• tighten the “golden visa” program by requiring compliance with regulations.

Our position is clear: The right to housing and social cohesion cannot be sacrificed for profiteering/speculation. And this position has nothing to do with any xenophobia or racism. It has to do with protecting society, the young generation, and people’s right to live in their own communities.

Further measures to address the housing crisis

• Expanding the eligibility criteria for the “Rent-to-Pay” program to cover more households.
• Launching programs for energy upgrades with photovoltaics and storage, as well as for energy conservation.
• Advancing our call for the creation of a financing mechanism to fund specific affordable housing programs.

3. Income support and working people’s protection

Taking into account the European Directive on the minimum wage, which stipulates that collective agreements should be extended to cover 80% of workers, we are launching a modern social dialogue to ensure, through institutional and legislative measures, the implementation of collective agreements and the possibility of extending them to cover the entire economic sector.

For workers not covered by collective agreements, we will continue to promote the establishment of minimum employment standards.

4. Cost of Living / Expensiveness

The top priority is reducing energy costs.

We are promoting:

• A permanent reduction of VAT on electricity to 5%.
• An end to double taxation on fuel.
• An expansion of the semi-governmental Electricity Authority’s (EAC) social bills and their automatic application.
• Granting the EAC the ability to purchase green energy and incorporate it into its energy mix.
• Promoting policies to create energy communities.

5. Young parents / low birth rate:

Addressing the issue of the low birth rate requires support for new families. Young parents must be supported through specific programs and meaningful infrastructures.

More specifically:

• Extending maternity leave for the first child to 26 weeks, as recommended by the World Health Organization.
• Increasing the maternity/paternity/parental leave allowance, which currently stands at 72% of salaries, through collective bargaining agreements.
• Granting a lump-sum payment as a maternity allowance to female workers who do not meet Social Security eligibility requirements.
• Establishment of a birth allowance of 5,000 for the first child, 10,000 for the second, and 15,000 for the third.
• Full coverage of all childhood vaccinations.
• Financial assistance for the purchase of specialized formula for infants with special needs.
• Strengthening of summer all-day schools with educational programs for creative activities for children.
• Increased or full coverage of expenses for therapies for children with ADHD and autism (child psychologists, occupational therapy, speech therapy).

In conclusion:

In the upcoming parliamentary elections, the main issue at stake is which voice will be the strongest for society. Which force will continue to challenge vested interests, to defend workers, young people, families, pensioners, and those who are burdened daily by rising costs, insecurity, and inequality.

WHY WE NEED A STRONGER AKEL

Because every social gain we have gained in Parliament was won through waging struggles, elaborating and submitting specific and realistic proposals, and a vision for society and for the future.

Today, in the face of expensiveness, super profits, the housing crisis, and job insecurity, we need a strong force that:

• does not compromise with vested interests,
• does not remain silent in the face of inequality.
• will continue to stand as a bastion of resistance against government policies that work against the many.
• will not calculate the political cost when it comes to the benefit of society.

We need a stronger AKEL:

• to protect society,
• to support workers,
• to ensure the implementation of a genuine housing policy,
• to make those who earn excessively pay more their fair share,
• to give the young generation hope again.

Because nothing is ever given for free.

Everything that has been won was won through struggle.

And the battles ahead of us require a stronger AKEL. A combative, responsible, and assertive AKEL.

An AKEL that will continue to stand where it has always stood: together with and alongside society, standing up to powerful interests.