AKEL urges the government to continue subsidising fuel as increases in fuel prices due to the termination of subsidies are placing additional economic pressure on the vast majority of society.
Specifically, the AKEL spokesperson, Giorgos Koukoumas, stated that “increases in fuel prices due to the government’s termination of subsidies are further squeezing the vast majority of society. AKEL calls on the Christodoulides government to reconsider its stance and continue subsidising fuel, as a small relief for households, workers, and small businesses.”
He also noted that “if what the Christodoulides government announced a few days ago is the best they can do, then obviously they do not understand what is happening in reality and the daily lives of the Cypriot people. What Mr. Christodoulides and his government do know very well, however, is that state coffers are primarily filling up with revenues that surpassed 1.5 billion in 2023 alone.”
“That Cypriot banks are recording record profits of all times. And that energy companies are accumulating windfall profits in the tens of millions, exploiting the situation in the energy landscape. Therefore, there are possibilities, but the government refuses to utilise them.”
Finally, the AKEL MP pointed out that “Mr. Christodoulides and his government should tell us why and how they cannot implement the taxation of windfall profits of banks and energy companies proposed by AKEL, since they are already applied in other European countries.”
“Especially regarding the taxation of windfall profits of energy companies, let Mr. Christodoulides remember that he himself supported it during his election campaign. The truth is that these proposals are neither unfeasible nor electioneering. Simply put, the concern of the Christodoulides government, instead of being society, is not to touch the windfall profits of banks and major energy corporations.”
