Cyprus’s AKEL urges government action on rising living costs with proposed subsidies and tax cuts
Cyprus’s AKEL party has called on the government to take immediate action against the rising living costs burdening households. AKEL lawmaker Giorgos Koukoumas criticized the government for collecting an additional €200 million in 2026 through VAT and consumption taxes without offering meaningful support to citizens. The party highlighted the ongoing high fuel prices and proposed measures including a transport allowance for low- and middle-income households with children, a one-off heating subsidy before winter, and a 50% reduction in vehicle circulation fees for the poorest households in 2027.
AKEL is also demanding an end to double taxation on fuel, increased transparency over fuel pricing, a permanent 5% VAT rate on electricity, and expanded subsidized social tariffs. They suggest using extra state revenue from inflation and excess profit taxation to fund these initiatives. To press their demands, AKEL has organized a demonstration outside the Finance Ministry on Monday, September 28, advocating for fair wages, adequate pensions, and affordable housing alongside the immediate economic relief measures.
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