Eleftheria Paizanou
Five reform actions are currently underway in Cyprus in the framework of strategic planning, through which the appropriate conditions will be created for growth, job creation and will also contribute to the promotion of competitiveness.
According to the Ministry of Finance, the reform actions are in addition to the structural and structural reforms, such as the reform of the Public Service, Local Government and Justice, which will have to be approved by the Parliament by the end of the year, in order for the Cyprus € 85 million from the Recovery Fund.
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The actions included in the government's reform plan are the following:
Reform of the Law on Companies. The reform of the legislation will complement the actions that are already underway by the Ministry of Energy, in the context of the implementation of the Action Plan for the modernization and reorganization of the Department of Company Registrar and Official Recipient. Along with the strengthening of the law, the legislative regulations introduced with the adoption of the Insolvency Framework will be supplemented and concern, among other things, the simplification and modernization of the existing legal framework based on both the Irish model and international best practices. The upgrade of the bill is included in the National Recovery Plan. Promoting a green economy. According to the Ministry of Finance, the transition to a green economy should be based on the new framework set at European level (the so-called “European Green Deal”). The so-called “green tax reform” will be promoted. In particular, there will be an increase in the taxation of activities that consume natural resources or pollute the environment, shifting the burden of taxation to environmentally harmful activities, with a corresponding reduction in the taxation of capital and labor. Green taxation is also included in the National Recovery Plan, which Cyprus must implement by 2026. According to a ministry spokesman, it will be neutral taxation, for which the dialogue between the involved bodies will begin in the first quarter of 2022. National Blockchain Technology Strategy. The aim of this strategy is to evaluate and seize the opportunities from the use of this technology, in order to promote and use innovation for the benefit of the economy, and at the same time to raise awareness about technology. As pointed out, this goal is in line with the vision of Cyprus to become one of the leading international centers for innovation and development, where innovative companies that comply with the regulatory framework, can grow. Public Service Reform. As the Ministry of Finance has stated many times, the purpose of the reform is to increase the productivity of the public sector, to restore the meritocracy and the trust of the citizens in the public service and at the same time to promote a more development-oriented approach by the civil servants. And while the bills were ready to be re-debated in the parliamentary Finance Committee, due to the fact that they are included in the commitments given by the Republic to the Commission, PASYDY's disagreement with the interdepartmental promotion opened a new round of dialogue with the Ministry of Finance to find Golden Section. Preparation of a Long-Term Strategy for Sustainable Development in Cyprus “Vision 2035”. Among other things, actions are promoted to reform the production model and achieve the goals of the strategy.
Low expectations for climate change
A majority of EU citizens believe their governments will not be able to tackle climate change, which Europeans see as the biggest challenge facing humanity this century, according to a report published by the European Investment Bank. Of the 27,700 people polled in the 27 EU countries, 58% said they believed their country would fail to drastically reduce carbon dioxide emissions by 2050. At the same time, 70% said they supported taking more strict measures requiring changes in citizens' behavior in order to reduce carbon dioxide emissions. The vast majority of respondents, 87%, agreed “completely” or “partially” with the proposal to replace short-haul flights with train travel, while 69% were in favor of adopting a tax on the most polluting products. “Shortly before the launch of COP26, these requests from citizens are a clear mandate for us to step up our efforts and accelerate the green transition,” said European Investment Bank Vice President Abruzzo Fayol.
