The extension of the support measures is self-evident and not sufficient
Statement by AKEL Political Bureau member & Head of AKEL’s Economic Policy Charis Polycarpou
16 February 2024, AKEL C.C. Press Office, Nicosia
The extension of the existing measures on electricity and fuel is the least the N. Christodoulides government can do to support households and businesses and must be considered as self-evident. However, the fact that the Government is still thinking about it is an indication of its inability to comprehend the realities in society.
Extending the measures is self-evident, but not sufficient to meet society’s real needs. Insufficient compared to the support that the other EU countries have offered, even more insufficient in relation to the exorbitant profits that society pays to the State from the increased taxes due to price hikes. This is particularly true as far as the electricity sector is concerned, given that it is the unacceptable negligence – that was demonstrated by the previous but also the current government – that leads to increased revenues for the public coffers.
Faced with a challenge of this magnitude, the state has the responsibility and obligation, but also the possibility to support society substantially by approving immediate measures, such as the reduction of VAT on electricity, but also to proceed decisively with a comprehensive plan in energy – by overcoming the dependence on oil and by promoting the greater introduction of renewable energy sources – in order to reduce the cost of electricity structurally and not momentarily.
16.02.2024
