Telegraph: Mitsotakis’s plan to end Greece’s greatest depression

Tax cuts and more foreign investments at the core of ND plan

In a feature piece on New Democracy and President Kyriakos Mitsotakis titled “Inside New Democracy’s plan to cure Greece after the Greatest Depression: cut tax and court foreign investors”, Telegraph’s online version outlines the plan the Greek conservative party will implement to help the the country emerge from the crisis by cutting taxes and pushing investments, as well as the goal of developing and creating thousands of jobs.

The piece says ND’s leader plans to proceed with tax cuts and reforms to boost competitiveness in an effort to shape the conditions that would make the country attractive to foreign investment, moves aimed at “curing Greece after suffering the most serious economic depression of its modern history,”

The Telegraph points to the tax cuts announced by New Democracy, especially corporate income tax, which will drop to 20%, from 29%, along with the reduction in taxes on real estate and insurance contributions. The financing of these projects, according to party spokeswoman Sofia Zacharakis, will come from a reduction in spending of 1.5 billion euros in the first two years.

Once the birthplace of Western democracy, Greece’s political leaders are now hoping to play midwife to Europe’s first post-populist state.
Kyriakos Mitsotakis’ New Democracy party claims to abandon the nationalist politics dominating debate in other EU member states, instead offering a liberal, centrist agenda that can unite the interests of both markets and Greeks for the first time since the country was plunged into a deep and merciless crisis.
The son of a former prime minister, Mitsotakis has tried to shake off an air of distinct Harvard polish, shifting his party’s offices from central to downtown Athens and shaving nearly €90,000 (£80,900) off its monthly rent costs.

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