The President of the Fiscal Council yesterday expressed his concern about the over-optimistic projections on which the Finance Ministry is building its budget, but also about proceeding with more tax breaks or taxation reductions without taking compensatory measures.
More specifically, the President of the Fiscal Council stated that:
“If we build our budget on over-optimistic projections which may be proven false the damage will be much more worse than the benefit we would have if we done the opposite, that is, to build our budget on more conservative projections.”
Unfortunately the Government in its desperate attempt to “sell” its notorious supposed “success story” in a communications game is seeking to portray a rosy picture of the course of Cyprus’ economy. If these government estimates are not verified, it will subsequently demand new measures; measures which in line with the government’s neoliberal philosophy the common people and workers will be called on to foot the bill.
With regards the tax reductions about which he has also expressed concern, the President of the Fiscal Council – indeed demanding compensatory measures – as AKEL we have one thing to say:
That the taxation reductions concern the Immovable Property Tax where the government gave millions of Euros to the few large property owners and crumbs to the majority of the people.
It is indeed tragic, and at the same time provocative for one to observe the government and ruling forces being so generous with the rich and socially insensitive to the poor.