It is extended until June Household basketwhile at Parliament a bill was submitted with new regulations for the market, but also to protect the citizen against difficult economic conditions.
With these provisions, among other things, the obligations of businesses during the announcement of price reductions are amended, while at the same time the extension until June 30 of the “household basket” is announced.
Specifically, in the relevant bill, according to newsbeast.gr, it is stated: “In every announcement about a price reduction, the previous price applied by the trader for a specified period of time before the price reduction is applied is indicated. Previous price means the lowest price applied by the trader during the thirty day period before the price reduction was applied.’
“When the product has been on the market for less than thirty days, the previous price shall mean the lowest price applied by the trader during the period of time the product has been on the market. Where the price is progressively reduced during the thirty days prior to the application of the price reduction, the previous price shall mean the price in force prior to the application of the first of the successive price reductions.’
With other provisions:
- The validity of the “household basket” initiative is extended until June 30.
- It is foreseen that producer and professional market seller licenses, which at the time the law came into force have not been renewed, can be renewed until 30.4.2023.
- It is stipulated that consumer associations are responsible for the accuracy of the information they announce for the information of the consumer public and when they announce information, which results from investigations they have carried out, they must make available to the consumer public and any interested party, the information concerning the way conducting the research. The communication to the consumer public of untrue information by the consumer association constitutes grounds for revocation of its certification.
- Immediate tax relief is foreseen for companies that implemented investment plans within the year 2022, but it was not possible to control them by the administration.
- The Hellenic Space Center is added to the technological institutions of the country.
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**Interview with Economic Policy Expert Dr. Elena Ramirez**
**Editor:** Thank you for joining us today, Dr. Ramirez. We understand that the government has decided to extend the “household basket” initiative until June 30. Can you explain what this initiative entails and its significance for families?
**Dr. Ramirez:** Thank you for having me. The “household basket” initiative is essentially a measure designed to ensure that essential goods remain affordable for families during challenging economic times. By extending it until June, the government is providing a safety net for households navigating the rising cost of living. This initiative helps to stabilize prices on key food and household items, making it easier for families to manage their budgets.
**Editor:** Alongside the extension of the “household basket,” a new bill has been introduced in Parliament. Could you shed some light on what this bill includes and how it aims to protect consumers?
**Dr. Ramirez:** Certainly. The bill includes important regulations, particularly around how businesses must communicate price reductions. One key element is the requirement for traders to clearly state the previous price for a specific period before any discount is applied. This transparency is crucial, as it allows consumers to make informed decisions and ensures that businesses are accountable for their pricing.
**Editor:** How do you think these changes will impact businesses and consumers in the long run?
**Dr. Ramirez:** While there may be some initial pushback from businesses concerned about regulatory impact, I believe that in the long run, these changes will foster trust between consumers and merchants. For consumers, having clear pricing and price histories will encourage fair competition and discourage deceptive practices. This, in turn, can lead to better pricing strategies among businesses and ultimately benefit both parties.
**Editor:** It sounds like a balanced approach. Do you have any final thoughts on how citizens should navigate this evolving market landscape?
**Dr. Ramirez:** Absolutely. I encourage consumers to stay informed about their rights, especially regarding pricing practices. It’s important for them to utilize the resources available to them, such as price comparison tools and local consumer protection agencies. Awareness is key, and by engaging with these new regulations, citizens can better protect their financial interests.
**Editor:** Thank you, Dr. Ramirez, for your insights on this pressing issue. We appreciate your time!
**Dr. Ramirez:** Thank you for having me. It’s been a pleasure.