KINAL leader Genimmata: Investments as important as tax relief

Movement For Change (KINAL) party leader Fofi Gennimata on Monday said “Greece needs a specific plan, of Greek identity and ownership (…) to benefit the great majority of Greeks,” during the parliamentary debate on the New Democracy’s policy statements, which she called “deeply conservative, with a touch of populist Right.”

“Do you really have any proposal to boost public investment, infrastructure, export business and production,” said Gennimata, “or are you just waiting for a miracle?” noted KINAL’s leader.

She then said that the goverment is moving ahead with tax reliefs without any convincing plan as to how they will trigger growth, and also stressed how ESM’s president Klaus Regling recently warned that for fiscal flexibility to have a positive effect on growth, it needs to channel the extra budgetary capital into investments, not just use it towards tax relief.

Addressing Prime Minister Kyriakos Mitsotakis, Gennimata asked “how will you avoid a fiasco similar to that in 2006, when New Democracy cut down corporate tax in 2006 and reduced property taxes, but growth did not come – instead companies’ revenues went up, incomes went down, and national economy took a downward spiral,” underlined KINAL’s leader.