The General Secretary of AKEL, Stefanos Stefanou, has announced initiatives to address rising living costs, focusing on taxing excess profits of energy companies and supporting vulnerable social groups.
Speaking at EDON’s New Year’s Central Council meeting in Kaimakli, Stefanou emphasised the need for both immediate and long-term policies to create a sustainable framework for economic stability.
He highlighted that wages remain stagnant, with workers’ disposable income among the lowest in Europe. The AKEL leader stressed the importance of increasing incomes while implementing social policies to strengthen the welfare state.
Acknowledging parliamentary limitations regarding increases in state expenditure, Stefanou explained that the party is seeking solutions to help the state boost its revenue while promoting social policies. He said AKEL will submit proposals for taxing excess profits, with revenues to be directed towards those most in need.
Stefanou pledged AKEL’s commitment to supporting those affected by high living costs, as well as small and medium-sized businesses facing significant difficulties.
