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The government gives away 20 million to big business but “there’s no money” to meet society’s needs


Statement by AKEL C.C. Spokesperson Giorgos Koukoumas

1 March 2024, AKEL C.C. Press Office, Nicosia

There is no money to meet society’s needs, but 20 million euros have suddenly been found to be given away to big companies. This is what the government’s bill provides for that passed yesterday by the majority of Parliament – with only AKEL voting against – which abolishes the 350 euro per annum fee for all companies indiscriminately.

Concerns about public finances and targeted measures are all abandoned when it comes to serving the interests of the banks and big business. The government ruling forces – current and former – have found and are finding tens of millions of euros when it comes to writing off taxes to big landowners, big depositors and passport investors, depriving the state of hundreds of millions of euros. Now, not only are they not intending to tax the exorbitant profits of the banks and energy companies, but they have decided to send a EUR 350 tip to all big business, but not from their own pockets, but from Cypriot people’s pockets.

AKEL, on the contrary, proposed the abolition of the fee for 75% of the country’s businesses – in fact for all small and medium-sized enterprises – and to maintain a graduated fee of 350 to 1,250 euros per year for large businesses, so that the state does not lose 20 million euros per year. With this – as well as with the resources from the tax on banks and energy companies that we have been proposing for so long – a drastic social package of measures to combat poverty could be funded.





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