Georgiadis on VAT on products: The prices in the basket have decreased by 4% – The comparison with Spain is unfortunate

Statements about price trends in supermarkets, the household basket and the initiative of iof the Spanish government for zero VAT the Minister of Development and Investments did today in some basic necessities ‘Adonis Georgiades, in the context of his visit to stores of the “Masoutis” and “Sklavenitis” supermarket chains.

Specifically, Mr. Georgiadis stated: “I have come today to a store of the “Masoutis” chain, shortly I will also go to a store of the “Sklavenitis” chain, because the prices in the “Household Basket” for the 9th consecutive week – now not it’s one and two weeks, it’s nine weeks, we’re going to 2.5 months – they’ve stayed not just flat, not just with less inflation as we said we’re aiming for, but they continue to fall.

So today we are at “Masoutis” because the value of his basket since last week has fallen by about 4%. The average price of the basket 9 weeks ago was 115 euros and today for the same products it is below 95 euros. This makes the basket. Many have not realized that the more people shop from the “Household Basket” the more money consumers earn. And because there was all this talk about VATwe have found a tool that works and lowers the price for the consumer without fiscal cost, just by exploiting the competition between the chains.

I want to thank the chains once again, they have all done very well and have put their backs up. If you look at the prices in the baskets, while in the first week the chains had a big divergence, now the chains have converged with each other. I’m impressed that after 9 weeks all the chains are still finding a way and lowering the prices.”

Regarding VAT in Spain he said: “The comparison with Spain is unfortunate and for SYRIZA to stop talking because it does not suit him. Mr. Sánchez with Podemos had the extraordinary fortune of inheriting from the right-wing Government in Spain, 4% and 10% VAT on basic products. 4% was done by 0%, 10% was done by 5%. We had the extreme misfortune of receiving 24% and 13% VAT from SYRIZA. So, as you can see the fiscal impact of a measure from 24% to 10% or from 24% to 0% is very different than it is from 4% to 0%.

Let us forever have the right in power to have 0% VAT, is the right answer. As long as you have the right-wing people, taxes go down, as we reduced the VAT, as we reduced the income tax, as we reduced the dividend tax, as we reduced the insurance contributions, as we abolished the solidarity levy.

SYRIZA will not budge on us, it is going too far. Tell Mr. Tsipras, “in the hanged man’s house they don’t talk about rope.” You are SYRIZA, you have taxed everything that flies, everything that swims and everything that breathes and you talk to Mitsotakis who has reduced 25 taxes and VAT. Mercy”.

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