Finding Your Footing: A Guided Journey Through the Challenges and Triumphs of Recovery

Finding Your Footing: A Guided Journey Through the Challenges and Triumphs of Recovery

In three different time periods, this year, in 2024 and in the period 2025 – 2026, the package of measures, presented by Prime Minister Kyriakos Mitsotakis, which will be specified through the bill that is expected to be submitted for consultation next week (probably tomorrow).

This bill includes all of the ND’s pre-election commitments. and they aim on the one hand to send a message of consistency of words and actions to society and citizens and on the other hand to maintain the credibility of the country vis-a-vis markets and investors, so as to obtain the coveted investment grade, which is timed for next autumn.

The start for the package of measures will be made from next month with the market pass, which extends until October, and continues a month later with the Youth Pass for those who turn 18 years of age.

At the same time, the package will include the doubling of the amount “My Home”the “breath” in pensioners who continue to work and they will immediately see their pensionable earnings increase by the equivalent of the 30% they currently lose for working even one day.

All interventions

The set of interventions that are immediately implemented are:

Market Pass: Extension of the measure for three more months (August – September and October) of the measure (22 to 72 euros per month) with the aim of limiting the negative consequences of the continuation of the precision, especially in the basic types of perversion. The criteria, income and assets, as well as the Market Pass amounts remain the same. However, according to information, for the payment of the aid, the incomes of 2022 will be taken into account, which will have been reflected in this year’s tax returns.

Youth Pass: In September, the youth pass will be granted for the first time to those who turn 18 this year. An allowance of 150 euros will be credited to their digital wallet or bank account, which will henceforth be granted to the 18-year-olds of each year, on an annual basis.

Tax-free increase: The increase of the tax-free limit by 1,000 euros for employees, pensioners and farmers with children will be applied from January 1, 2024. With the new data, the tax-free limit for taxpayers without children remains at 8,633 euros, for families with one child it increases from 9,000 euros to 10,000 euros, with two children from 10,000 to 11,000 euros, with three children to 12,000 euros and with four children to 13,000 euros. The benefit starts at 90 euros for taxpayers with 1 child and reaches 220 euros for those with two or more children.

Pensions – penalty: The “penalty” of deducting 30% of pensionable earnings for working pensioners is expected to be abolished immediately and replaced by a graduated levy on earnings.

Salary increases in the public sector: Establishment of a new civil servant salary with substantial increases in family allowances and position of responsibility allowances and the entry salary of a civil servant with compulsory education to increase from 780 euros today to around 840 euros. There are also likely to be increases in liability benefits.

Increase in pensions: From January 1, 2024, a new pension increase is coming, again by half of the sum of inflation and growth rate. The prime minister spoke of imminent increases of more than 3%, while the full exemption from pharmaceutical expenses for former EKAS beneficiaries is being consolidated.

Tax-free increase: For employees and pensioners who have children, the tax-free amount increases by 1,000 euros for each child. Tax reliefs start from 90 euros and reach up to 220 euros on an annual basis.

Decrease ENFIA: Decreases by 10% in 2024 for those who have insured or will insure their homes by the end of the year.

End of pretension: It will begin to decrease gradually until it disappears from the tax map. In 2025 it will be reduced by 20%, in 2026 by 30% and in 2027 it will be completely abolished. This measure was imposed during the period of the memorandums and annually burdens professionals and businesses with 400 to 1,000 euros.

Evidence of living: They will be reduced by up to 30% on average with the mandatory implementation of myData electronic books and the strengthening of electronic transactions.

Finally, the double repetition of two measures that applied last year should be considered very likely. One has to do with her grant of a lump sum to those pensioners who due to personal difference they will not receive or will receive a small increase and the second by granting eaid package to the economically weak social classes.

Source: RES-MPE

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