The Government has surrendered – Society is at the mercy of price hikes and high cost of living

 

Statement by AKEL Political Bureau member and Head of Economy Policy Charis Polycarpou

11 April 2022, AKEL C.C. Press Office, Nicosiaout

The record levels of inflation being recorded in Cyprus send a clear message that society is facing an unprecedented wave of price hikes and economic insecurity.

Unfortunately for the country, the government has surrendered, leaving society at the mercy of price hikes and the high cost of living. It is obvious that it neither has a plan, nor has it elaborated any schemes to deal with the size and extent of the phenomenon.

This is precisely why AKEL has taken specific initiatives in Parliament. It has submitted a proposal for a bill proposal to permit the imposition of a cap on fuel based on current conditions, while it will very soon also proceed with the tabling a bill proposal for the abolition of the double taxation on fuel.

It is time for the Government to realise that price hikes can’t be combated by wishful thinking and endless analysis, but through the implementation of concrete policies, with policies promoting state intervention, support for household incomes and the tackling of profiteering and exploitation in the market.