Mitsotakis promises comprehensive, bold settlement of private debt

Main opposition New Democracy leader Kyriakos Mitsotakis promised on Friday a comprehensive, bold settlement of the private debt.

Mitsotakis was speaking at the 2nd International Meeting of small and medium-sized companies held by the Hellenic Confederation of Professionals, Craftsmen & Merchants (GSEVEE).

He explained that such a private debt settlement is the catalyst for the economy as well as a prerequisite for the restructuring of the existing productive mechanism. He also harshly criticized the government on the ‘clean exit’ from the memorandum: “There is no clean exit from the third memorandum, because the government has already committed to austerity measures by reducing pensions and the tax-free threshold until 2019.”

“It is a fourth memorandum that includes primary surpluses of 3.5 pct by 2022. The government has been committed to increased surveillance,” he said and added: “Economic weakness will not change via over-taxation and lack of payments and reforms, which are the characteristics of the current government.”

Mitsotakis stressed the importance of planning the policy blend and implementing the reforms that the economy needs.

Moreover, he stated the three priorities: the reduction of taxes and social insurance contributions, in conjunction with a smaller and more efficient state, attracting investments and supporting the socially weak.

He also reiterated his commitments to reduce corporate taxation from 29 pct to 20 pct, to reduce ENFIA (Uniform Real Estate Ownership Tax) by 30 pct within two years, to reduce the 5 pct dividend tax as well as to offer incentives for investment through taxation, especially for new companies that do not yet have profits. Regarding tax legislation, he committed that the new framework will not only be stabilized but simplified.