{"id":4249,"date":"2024-03-15T13:01:49","date_gmt":"2024-03-15T11:01:49","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=4249"},"modified":"2024-03-15T13:01:49","modified_gmt":"2024-03-15T11:01:49","slug":"cyprus-consumers-in-a-dire-situation","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=4249","title":{"rendered":"Cyprus consumers in a , \u2018dire situation\u2019"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/03\/cyprus-consumers-in-a-dire-situation.jpg\" class=\"ff-og-image-inserted\"><strong>Consumers in Cyprus are in a dire situation<\/strong> as ongoing increases in the prices of essential goods, energy costs, and high interest rates have further eroded their standard of living, Peo union said on Friday, marked internationally as World Consumer Rights Day.<\/p>\n<p>The organisation called on the government to impose taxes on windfall profits to be able to implement a comprehensive social policy.Peo said \u201cenergy costs have crippled consumers and households, a fact confirmed by EU data, as Cyprus is the second country out of 26 in the European Union in energy poverty.\u201dFurthermore, the cost of borrowing continues to rise, especially in housing loans, despite the stabilisation imposed by the European Central Bank. This upward trend in borrowing exerts enormous financial pressure on society, Peo said.\u201cThe skyrocketing rents, coupled with the great difficulties in lending, the enormous increases in the real estate sector, and the absence of social housing plans, make it <strong>increasingly difficult, if not impossible, for low and middle-income groups, and especially young couples, to acquire economically accessible and decent housing.<\/strong>\u201dPeo called on the government to \u201cdemonstrate the necessary political will\u201d and proceed with the taxation of windfall profits. In this way, the state will have the necessary revenue to implement a comprehensive social policy including the extension of existing measures and new compensatory measures to support low-income groups and vulnerable households.To address these issues, Peo reiterated its proposals regarding the full restoration of Cola (Cost of Living Allowance) and its extension to all employees as a mechanism for substantial restoration of wage purchasing power.Among Peo\u2019s proposals are also the inclusion of low-income pensioners in the beneficiaries of the electricity tariff reduction, the reduction of fuel prices either through price subsidies or through tax reduction, and the introduction of an economic support scheme for low-middle income households to purchase electric cars.Follow the<br \/>\nCyprus Mail  on Google News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumers in Cyprus are facing increased financial pressure due to rising prices of essential goods, energy costs, and high interest rates, according to the Peo union. The union highlighted that Cyprus ranks second out of 26 EU countries in terms of energy poverty. The cost of borrowing, particularly for housing loans, is also on the rise despite efforts by the European Central Bank to stabilize it. This situation is making it difficult for low and middle-income groups, especially young couples, to afford decent housing. Peo has called on the government to tax windfall profits to fund a comprehensive social policy, including measures to support low-income groups and vulnerable households. Their proposals include restoring and extending the Cost of Living Allowance (Cola) to all employees, reducing electricity tariffs for low-income pensioners, lowering fuel prices, and introducing a scheme to help low to middle-income households purchase electric cars.<\/p>\n","protected":false},"author":3,"featured_media":4250,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[1902,1664,568,2021,715,3,553,358,2023,379,51,250,415,1295,899,1401,1184,230,323,1004,1033,2022,287,1549,1812,1832,1358,1065,1183,18],"class_list":["post-4249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-bank","tag-cars","tag-cola","tag-consumers","tag-cost-of-living-allowance","tag-cyprus","tag-electricity","tag-energy","tag-energy-costs","tag-eu","tag-european-central-bank","tag-google","tag-government","tag-inclusion","tag-interest","tag-interest-rates","tag-low-income-groups","tag-pensioners","tag-poverty","tag-power","tag-prices","tag-prices-of-essential-goods","tag-real-estate","tag-real-estate-sector","tag-rights","tag-subsidies","tag-support","tag-tax","tag-taxes","tag-world"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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