From 25 September, the package of measures announced at the Thessaloniki International Fair (TIF) begins to take effect in practice, with payments, wage and pension increases, and tax cuts rolling out in successive waves until the end of 2027. Greek Prime Minister Kyriakos Mitsotakis gave specific implementation dates for the measures from the TIF platform, presenting what he called a “calendar of social reciprocity”.

“These are time commitments subject to the judgement of citizens. And such a plan starts immediately,” the Prime Minister said.

The process begins on 25 September, with the retroactive payment of double rent allowance for doctors, nurses and teachers serving in the regions, covering the 2024 tax year.

On 1 November, the Special Consumption Tax on fuel used by farmers will be refunded directly at the pump.

The first major milestone is 30 November 2026. On that date, the rent allowance refund for the 2025 tax year will be paid, along with the double rent allowance for doctors, nurses and teachers. The same day will also see the new permanent 400 euro annual support payment credited to the accounts of all pensioners over 65, people with disabilities, and uninsured elderly citizens.

In late December, increased January pensions will be paid, calculated on the basis of inflation and GDP performance, with the personal difference no longer deducted.

The second major package takes effect with the New Year. From 1 January 2027, income tax will be zeroed for families with three children earning up to 20,000 euros, indexation of disability benefits will begin, and public service charges on household electricity bills (YKO) will be halved, from 6.9 to 3.45 euros per megawatt hour.

During January, two of the central pledges for the new generation come into force: the “New Generation Piggy Bank” opens, a special investment account for children up to two years old, and the “My Home 3” housing scheme begins.

The next wave arrives in spring. With the ENFIA property tax assessment in March, the abolition of the tax will take effect in settlements with up to 2,000 residents, and up to 2,200 in Western Macedonia. From 1 April, the minimum wage will rise above 950 euros, with a corresponding across-the-board increase for public sector workers, dragging up seniority increments and allowances as well. On the same day, social security contributions for private sector employees will fall by a further 0.5 percentage points, from 1 April 2027, a move that will increase employees’ net income while easing the burden on businesses.

Between mid-March and mid-July, through tax returns, a package of tax cuts worth 884 million euros will reach taxpayers’ pockets. This includes relief for self-employed professionals and farmers, a reduction in presumptive income assessments, the abolition of the flat business tax in the regions and Thessaloniki, and zero tax up to 20,000 euros for full-time farmers.

The calendar continues in November 2027 with a fresh payment of the rent allowance refund and the 400 euro support payment, before reaching December 2027, when public sector workers will receive, for the first time, a permanent Christmas bonus of 500 euros gross, which will also count towards their pensions.

The 12 measures of the growth dividend

The 12 core measures of the TIF package, under the title “Agreement for Progress and Prosperity”, were presented by Mitsotakis from the platform of the 90th Thessaloniki International Fair, outlining what he called a “growth dividend” aimed at businesses, self-employed professionals, pensioners, farmers, families with three children, workers, public sector employees, young families and vulnerable groups.

1. Taxation is the first area addressed. The flat business tax for companies will be phased out gradually, starting in the regions in 2027, with application in Attica following in 2029.
2. Changes are also coming to presumptive income assessments for self-employed professionals. Those with a consistent tax record will be exempted from surcharges linked to turnover and payroll, so that the new framework distinguishes those who meet their obligations.
3. For legal entities, a gradual reduction in advance tax payments of 5% a year was announced, aiming to reach 50% from the 2028 tax year.
4. On income support, pensioners over 65 will receive an increased annual payment, set at 400 euros.
5. Full-time farmers will see their income tax zeroed up to 20,000 euros,
6. while a corresponding exemption, up to the same income threshold, was announced for families with three children.
7. In the labour market, the minimum wage is set on a new upward path, reaching 1,000 euros from 1 January 2028.
8. Public sector employees will receive a Christmas bonus worth 500 euros gross, to be paid from December 2027.
9. On housing, a new “My Home 3” programme was announced, worth a total of 2 billion euros, aiming to widen access to housing.
10. A standout measure is the new investment account for every newborn. The state will match, and double, the amount parents deposit each year, so that by the child’s 18th birthday, a nest egg exceeding 60,000 euros could have been built up.
11. On energy, a gradual reduction in the wholesale price of electricity by 30% by 2029 was announced.
12. The package is rounded off by the indexation of disability benefits, so that payments adjust in line with changes in the cost of living.

Mitsotakis gave further details of the newborn savings scheme, describing it as a modern measure aimed at encouraging births alongside a culture of saving. Under the plan, families will pay into the “piggy bank” during the child’s first two years, with the state matching, and doubling, their contribution.

As an example, the Prime Minister said that a family saving 100 euros a month for their child (1,200 euros a year) would receive up to an additional 1,200 euros annually from the state. By the time the child turns 18, this could add up to as much as 60,000 euros, which could then be used to help them start adult life, whether for further study, work or other needs. While the money is being saved, it will also be invested so that it grows through returns.

Mitsotakis also gave concrete examples of the tax savings involved. An employee with three children and an annual income of 20,000 euros, who currently pays 620 euros in tax, will now pay no tax at all. For a self-employed professional earning 15,000 euros, total savings could reach as much as 1,350 euros.

At the same time, the special allowance for large families, those with four or more children, will rise by 1,000 euros for each additional child. The allowance for a fourth child will increase from 3,500 to 4,500 euros, while for a fifth child it will rise from 5,500 to 6,500 euros. The increase will also apply retroactively to births from January 2026, benefiting thousands of large families.