Statement by the General Secretary of the C.C. of AKEL S.Stefanou during the delivery of the Party’s contribution to the Social Solidarity Network

 

30 April 2024, AKEL C.C. Press Office, Nicosia

We are here at the Social Solidarity Network – I must say for the second time this year, because Christmas and New Year preceded it – to contribute to the efforts made by the Social Solidarity Network to offer support to numerous families in need of support, especially now during the festive period.

I would like to praise the work, contribution and activity of the Network, because it is through this activity that we are able to support families who, unfortunately, do not have what they need to cope with the needs and demands of life.

Together with our support and contribution, we feel the need to refer once again to the need for the State to pursue those necessary policies that should support all those who need the state’s support and care. It is well known that the state’s social policy has too many shortcomings. It is not only a question of providing benefits, which must be adapted to meet today’s real needs, but policies must be accompanied by establishing infrastructures too, by actions and all those things that a state needs in order to pursue a comprehensive social policy.

The difficulties are even greater because of the wave of price increases and expensiveness that has been ongoing for some years now. This is a phenomenon which, as we have said from the very beginning, was not going to be temporary while everything suggests that this situation will continue.

Price increases and the high cost of living are exerting immense pressure on vulnerable groups of the population, on small and medium-sized households and beyond. It is something that the government, at long last, must tackle by taking immediate measures, but also by taking those measures and policies that will offer help in the medium and long term, for the state to provide what is necessary.

AKEL has submitted numerous proposals for the provision of immediate support and relief for households and small and medium-sized enterprises. Unfortunately, the government is not responding satisfactorily to the current situation, citing the need for fiscal stability.

AKEL stresses that fiscal stability is important, but there is room for further support to be provided. Let me simply note that over the last two years the state has had increased revenues, due to the price increases, of around EUR 2.5 billion. At the same time, the government can further increase its revenues in order to be able to support the economy and society more.

It is for this very reason that we have tabled a specific proposal for a law to tax the windfall profits that banks have amassed. There are too many windfall profits that banks have record, almost a billion euros, and with this money the state can implement a number of policies. For example, the subsidy of interest rates that have increased. This is an action and policy announced by the government, but which has not actually been implemented. So there’s lots the government can do in order to acquire more revenues and return it to society, to the vulnerable groups of the population, to small and medium-sized families. That is why we shall continue to push for this to become a reality.

Let me express my congratulations to the Network and hand over the cheque with which AKEL is contributing to the Network’s important effort. Continue this social contribution. It is with your contribution and that of many others on a voluntary level that we help families to cope with difficulties. At the same time, your actions also underline the need for the government to move towards supporting social policy and modernising this policy.