Mitsotakis: Taxation on energy companies that have made excessive profits from price increases

The imposition taxation on energy companies who have made excessive profits from price increases when the RAE's findings are finalized, Prime Minister Kyriakos Mitsotakis announced in Parliament.

Special tax on energy companies' excess profits

«Controls on revenues will also be implemented. large energy companies so that it could be examined where they were excess profits which are due to the current international turmoil. I have already instructed the energy regulatory authority which is the only competent body to begin analyzing the data of all energy companies from last October to date, and the government will act based on the findings of the RAE,» said the prime minister, continuing:

«Where it will be determined excess profits companies will be asked to contribute to dealing with losses that citizens had,» he noted. I will not hesitate to legislate an emergency levy where there are such profits, He added, »We will announce when we have the findings of the energy regulatory authority in our hands.".

At the same time, describing the measures already taken by the The government reiterated that for ENFIA Greeks will pay €920 million less than what they were assured in 2018 under SYRIZA, 354 million less than what they paid in 2019, while 8 out of 10 will see their property tax reduced by up to 40%.

At the same time, the prime minister called on Alexis Tsipras to respond as to whether he would vote for the tax cuts. «This government's consistent orientation is to provide relief to the most vulnerable and the middle class. We are implementing a consistent policy of returning to the middle class what SYRIZA took from them in recent years. We are talking about permanent tax cuts,» clarified Kyriakos Mitsotakis, noting that the government has reduced 60 taxes, charges, and contributions, which are complemented by the guaranteed December income and the second increase in the minimum wage. «The goal is to make the suspension of the solidarity contribution permanent for everyone,» he added meaningfully.

According to him, there are two ways to defend a household: the first is to increase wages, and the second is to reduce taxes and contributions. «Our plan limits—it does not eliminate—fuel price increases,» he pointed out.

Looking towards the opposition benches, he stressed that public resources must be allocated in such a way that there are always reserves. «During the pandemic, the opposition told us to give everything at the beginning, but society and the economy recognised that the way we intervened was fair and based on planning. We are doing the same now. No one can spend budget resources recklessly; we are not willing to take responsibility for such irresponsibility,» he stressed.

«No» to elections

The prime minister also announced that elections will be held at the end of the four-year term. «Set aside your desperate calls for elections. They will be held, as I have told you many times, as stipulated by the Constitution, at the end of the four-year term. (...). So don't call for elections because you know when they will be held and you know you will lose them. You are wasting your energy,» said Mr. Mitsotakis.

He also accused the opposition of resorting to impractical slogans. «SYRIZA's proposals amount to around €16-17 billion, which once again throws everything up in the air,» he noted.

Finally, regarding the situation in Ukraine, he stressed that Russia's invasion is causing bloodshed, refugee flows, and global insecurity. «From the outset, Greece has sided with peace, international law, and the inviolability of borders, standing alongside Ukraine and our tens of thousands of compatriots. «I am committed to rebuilding the Mariupol maternity hospital,» he stressed, pointing out that any attempt to violently change borders must be repelled, as must any model of leadership that seeks to undemocratic to become a ruler.

Mitsotakis to Tsipras: If the excess profits amount to 1.4 billion, 90% of this will be returned.

Kyriakos Mitsotakis pledged to return the €1.4 billion in excess profits from 90%, as calculated by Alexis Tsipras, during the his second speech. «You said that there are excess profits of €1.4 billion. I don't know where that figure comes from. Let's assume that the profits were indeed €1.4 billion. I am here to tell you that, by government decree, 90% of the excess profits will be returned to the Greek State. This is the government's choice, 90% will be subject to extraordinary taxation and will be returned to the budget,« Mr. Mitsotakis clarified, expressing his doubts about the specific figure.

This is because, according to the prime minister, the head of SYRIZA did not correctly calculate the discount they give to retailers as a result of their profits. «If PPC does indeed make significant profits as a result of such a policy, I can tell you that the profits of 90% will be subject to extraordinary taxation by the Greek government.».

At the same time, he called on Mr. Tsipras to avoid the rhetoric of 2015, making special mention of the word «stolen» used by the president of SYRIZA. «Stop, Mr. Tsipras, bringing the public debate back to the level of the indignant of 2011. I heard again, »bring back what was stolen. Who was saying this outside parliament when the two squares of the indignant met with vulgar slogans? Greece in 2022 is not Greece in 2012. Nor are you the Tsipras of 2012," he emphasized.

Regarding the excise duty on fuel, he cited the European Commission's director-general, who says that a reduction in excise duty will benefit wealthy people who own polluting cars. «If we implement horizontal measures, the measures would favor the wealthy as well as the targets equally. We here earn an income of more than €30,000. The reduction would also benefit those of us who have an income of more than €30,000. This money would ultimately be missing from the amount we would have available for the vulnerable,» he noted.

Elections under the current electoral law

Finally, Kyriakos Mitsotakis denied that the electoral law would be changed again. «I must tell you that I see a great deal of turmoil surrounding the issue of the elections. I am telling you that they will be held under the existing electoral law, but since you are the leading party anyway, why do you care so much? What is this anxiety that has gripped you? And I repeat that the first elections will be held under the existing law and the second under the new electoral law that we have voted for. But you must understand that the way you are leading the country into a double election battle is your responsibility,» he said. He even spoke of a caretaker government scenario «for two or three months» because of proportional representation. «This is a responsible stance when we all know that we are facing an international crisis. We have a war economy and you are calling for elections,» he stressed.