SYRIZA-PS submitted a proposal for a law to deal with accuracy and profiteering. The proposal includes a framework of measures, “which will have a repressive effect on the production mechanisms of precision and speculation, which constitute a major social, economic and development problem in recent years in Greece”.

With the proposed law, SYRIZA-PS submits “a holistic plan to deal with the exactness and suppression of the profiteering mechanisms that create and feed back the phenomenon, with the aim of ensuring the decent living of all citizens and shielding the value of individual and family income from any source”.

According to a relevant announcement by the official opposition party, measures are divided into short, medium and long-term implementation, until the necessary result is ensured and a new normality prevails, aligned with the European acquis.

In a related statement, the secretary of the party’s Executive Committee, Theodoras Tzakri, states that “SYRIZA-PS, just as it had promised, submitted a proposal for a law for the comprehensive treatment of accuracy and speculation. Costed, clear and immediately applicable”.

This law proposal, Ms. Tzakri notes, “proves the credibility of the opposition leader and the president, Stefanos Kasselakis, as it includes all the measures that we have already tabled in the public debate.”

He emphasizes that “the new era of SYRIZA-PS also marks a new era for the social and economic life of Greece. The time has come for Mr. Mitsotakis to prove whether he is with society or with the speculators.”

The SYRIZA-PS law proposal to deal with accuracy and combat speculation includes the following:

ARTICLE 1 Establishment of a maximum margin of gross profit on foodstuffs, manufactured goods and agricultural supplies

– Establishment of a maximum gross profit margin throughout the supply chain on products imported or produced in Greece that are either fresh/standardized food or industrial goods (consumer and durable). The measure is permanent.

ARTICLE 2 Imposition of maximum profit margin and extension of Temporary Solidarity Contribution to oil refining for the year 2023

– Establishing a maximum gross profit margin on oil refining and the production of its refined products at the level of the average of the corresponding proven EU profit margins.

– Extension of Temporary Solidarity Contribution for the year 2023

– Establishment of an extraordinary levy on the excess profits of refineries in 2023 amounting to 90%.

ARTICLE 3 Mechanism for monitoring and preventing excess profits in electricity markets

– Establishment of a mechanism to ensure that the profit margin of energy providers will not exceed 5%.

ARTICLE 4 Imposition of Extraordinary Levy on excess profits of banks

– Establishment of an extraordinary levy of 90% on the excess profits of banks in 2023 resulting from the difference between the interest rates on deposits and loans of Greek banks in relation to the average of EU banks.

ARTICLE 5 Measures to Reduce/Remove Tax Burdens

1. Reduction of the Excise Tax on fuel to the lowest allowed rate of the European Union

2. Zero VAT on specific products (meats, milk and dairy products, eggs, natural honey, vegetables, plants, roots and tubers, edibles, cereals, flour products, starches of all kinds, olive oil and its fractions, even if refined, but not chemically Other oils and their fractions, whether or not refined, and mixtures of these oils. Infant safety and protection articles, namely absorbent diapers, of any material.Preparations for infant nutrition, put up for retail sale).

3. Establishing on a permanent basis the reduction of VAT to the average of the European Union – Reduction of the VAT rate

It is established on a permanent basis and with the completion of the measure of the above paragraph, the reduction of VAT to the average of the European Union, i.e. to 21% for all goods except those for which it is established that they fall under the reduced and over-reduced rate of 11% and 5%, respectively.

4. The reduction of VAT to 6% for water supply and the exemption from VAT for sewerage services (as was the case until 2011) are introduced.

ARTICLE 6 Granting of a special “AGRICULTURE” card to farmers

– Issuance of a special “AGRICULTURAL MOVEMENT” card for the financial support of farmers, which is equal to the refund of the Special Consumption Tax for diesel traffic, increased by 18%, i.e. by the amount corresponding to the difference between 24% and 6% and therefore corresponds to the establishment reduced VAT rate. The sums of money will now be prepaid (not refunded) by crediting the card.

ARTICLE 7 Reduction of Rural Electricity Costs

– Establishment of a special discount on the supply of electricity products for eligible farmers and breeders, set at 50% of the final basic electricity supply price.

ARTICLE 8 Reduction of Plant and Livestock Production Costs

– It is prohibited to sell to professional farmers, breeders and cooperative groups and cooperatives these fertilizers and animal feeds, for the production of raw cereals of all kinds, flour, sunflower vegetable oils, when the gross profit margin per unit exceeds the corresponding gross profit margin per unit before of December 31, 2021.

ARTICLE 9 Establishment of Agricultural Products Market Control Mechanism

– An independent Agricultural Products Price Control Mechanism Unit of the Ministry of Rural Development and Food, under the General Directorate of Food, is recommended.

ARTICLE 10 Administrative measures against companies producing and trading food, industrial goods and agricultural supplies that violate the provisions of article 1

1. Enforcing the mechanism for imposing fines and creating an electronic register of offenders to be excluded from public tenders.

An Electronic Registry of Violators is being established under the responsibility of the Interagency Market Control Unit (DIMEA) of the Ministry of Development. The Interagency Market Control Unit and the Competition Commission shall without delay inform the Electronic Register of Violators of the final imposition of a fine for violation of the provisions of paragraph 1 hereof.

2. Method of calculating fines, amendment of article 54 par. 5 of Law 5045/2023.

Anyone who violates paragraph 1 of article 54 of Law 5045/2023 is subject to a fine that must be effective, proportionate and dissuasive, and may reach up to 10% of the total turnover of the business within the country during the previous of issuing the use decision.

ARTICLE 11

– Reduction of the cost of an unlimited transport card in Public Transport.