ELAS EMT highlights support for small and medium-sized businesses at Kavala Expo

The Eastern Macedonia and Thrace regional committees of the Greek Left Alliance (ELAS) placed support for small and medium-sized businesses at the centre of their agenda during the 32nd KAVALA EXPO, presenting proposals including a new National Convergence Fund, lower VAT and electricity costs, and debt repayment arrangements of up to 120 instalments.

A delegation of ELAS regional coordinating committees attended the exhibition at the “Apostolos Mardyris” Exhibition Centre in Nea Karvali, where it highlighted what the political movement described as the economic pressures facing small and medium-sized enterprises across Eastern Macedonia and Thrace.

The delegation also participated in an event organised by the General Confederation of Greek Professional Craftsmen and Merchants (GSEVEE) and the Kavala Federation of Professionals and Merchants (OEVE Kavala).

According to ELAS, its participation was intended to support local professionals and highlight the challenges facing businesses in Kavala, Drama, İskeçe (Xanthi), Rhodope (Rodopi) and Meriç (Evros).

ELAS ACCUSES GOVERNMENT OF LEAVING SMALL BUSINESSES BEHIND

In a statement, the regional committees argued that the government had systematically excluded small and medium-sized businesses from bank financing, European Structural and Investment Funds and the Recovery Fund.

The organisation identified six major pressures on businesses: rising prices, high energy costs, expensive commercial rents, private-sector debt, what it described as unfair taxation and a lack of liquidity.

These assessments are ELAS’s political claims and were not independently established in the material released by the organisation.

PROPOSAL FOR A NATIONAL CONVERGENCE FUND

At the centre of ELAS’s proposals is the creation of a National Convergence Fund, with €4 billion in annual resources and, according to the organisation, the potential to generate up to €25 billion in total investment capacity over four years through leverage.

The proposal forms part of the broader economic programme presented by ELAS leader Alexis Tsipras earlier this year. Other reporting on the programme has also identified the National Convergence Fund as a central component, although figures and funding mechanisms have been presented in different ways at different stages.

ELAS says the fund would prioritise small and medium-sized businesses, with the aim of strengthening regional economies and expanding access to finance.

LOWER VAT, ELECTRICITY COSTS AND DEBT RELIEF PROPOSED

The regional committees also presented a package of 10 proposed policy measures.

Among them are the abolition of the business tax, a reduction in VAT, a 30% reduction in electricity tariffs and the possibility of restructuring outstanding debts over as many as 120 instalments.

The measures are presented by ELAS as a way to ease operating pressures on professionals while strengthening consumers’ purchasing power.

The proposal for a National Convergence Fund is consistent with the wider economic programme publicly outlined by ELAS, which has included measures aimed at supporting small businesses and self-employed professionals.

ELAS’s Eastern Macedonia and Thrace committees said they would continue supporting the demands of professional organisations, arguing that stronger regional economic activity would help the region play a greater role in the national economy.