Taxation of energy companies massive profits, not a cap

AKEL Political Bureau member Neoklis Sylikiotis on the European Commission’s proposals:

“The government should stop sustaining the process of profiteering and speculation from the taxes it takes, returning just crumbs to citizens”

14 September 2022, ‘Astra’ radio station

The super profits recorded by the energy companies must be taxed and not a cap imposed, AKEL Political Bureau member Neoklis Sylikiotis pointed out to ‘Astra’ radio, commenting on the European Commission’s current proposals.

Neoklis Sylikiotis criticised the European Commission for seeking to focus the issue on the logic of reducing consumption by shifting the responsibility to citizens and stressed that this will create a problem especially for small and medium-sized enterprises, while the energy companies will continue to record massive profits.

The AKEL Political Bureau member added that another issue is how governments will use the 140 billion euros which the Commission President said will be given as aid.

Furthermore, Neoklis Sylikiotis said that the EU has failed to provide answers to the issue of energy poverty.

He called on the government to stop sustaining the process of profiteering and speculation from the taxes it takes, returning only crumbs to citizens.

Energy, Neoklis Sylikiotis stressed, is a social good and cannot be left in the hands of the private sector.