This year’s presence of Kyriakos Mitsotakis at the TIF next weekend has very different elements from the previous five. Above all, it has an element of political criticality, as the Prime Minister is called upon to reverse the heavy climate for the government after the recent European elections and to achieve the much-desired “restart”.
The interventions that will obviously be announced and will basically have an economic-social nature, with a view to supporting the weaker and vulnerable, will however focus on housing, with restrictions on airbnb, tax incentives for long-term leases, etc. and other measures.
The significant institutional intervention and the brake from the Stability Pact
It is also widely rumored that Kyriakos Mitsotakis will also include in his announcements an important institutional intervention, in view of the ongoing constitutional review.
However, the announcements are subject to the contradictions and limitations of the revised Stability Pact, which puts the brakes on deficits and spending, as well as the unfavorable international economic situation, which due to wars does not show many signs of optimism.
Based on these, the measures expected to be announced by Kyriakos Mitsotakis in Saturday’s speech will include the following:
- The program “My House 2”, amounting to 2 billion euros. 50% of its financing will be covered by loans from the Recovery Fund and the remaining 50% by bank borrowing.
- The expansion of the beneficiaries, with the age criterion reaching 50 years, from 39 that was in the previous program
- The expansion of the income criteria with zero interest for three and many children
- The age of the properties should be less than 15 years.
- Social Compensation. By the end of the year or at the beginning of 2025, the first international tender is expected to be announced for the construction of 3,000 houses on State plots and the utilization of 1,600 vacant properties throughout the country
- There will be improvements to the “Renovate – Rent” program, which is expected to start immediately. Among other things, it is expected to announce an increase in the subsidy from 4,000 to 6,000 euros (60% for total costs up to 10,000 euros) and the advance payment of the amount to 50%.
- Support of vulnerable social groups with permanent measures amounting to 880 million euros which will be included in the 2025 budget. They will include: Reduction of insurance contributions by 0.5%, costing 215 million euros (possibly the reduction will reach 0.75 %), abolition of the business tax for professionals, costing 120 million euros, permanent return of the Special Consumption Tax to farmers, costing 100 million euros, increase in student housing allowance, costing 15 million euros, increase in pensions costing approximately 400 million euros, suspension of VAT on construction, costing 20 million euros.
- In particular, with regard to increases for the 2.4 million pensioners, interventions are envisaged that will be legislated with the mini-insurance policy: Horizontal increase of 2.6% – 2.8% for all, granting of a “personal difference allowance” to all those have a personal difference and lose the general increase, finalization by EFKA of the list of beneficiaries to whom the 300 million euros will be shared from the taxation of the super profits of the refineries, increases of up to 42 euros per month in the main pensions that exceed 1,400 euros through the change of the scale of the Emergency Pensioner Solidarity Contribution
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