Takis Theodorikakos: “Without the cap, food inflation would be 3–4 percentage points higher.”

In the strong safety net for consumers against instances of price gouging and abusive practices created by the Ministry of Development, the Minister of Development Takis Theodorikakos at the 7th OT FORUM marking the 100th anniversary of the Economic Courier.

“We have taken consumer protection measures about which the opposition says absolutely nothing. We have once again imposed price caps on the profits of the food industry and supermarketst and if we hadn’t done so, the prices of products would be much higher. Since the day we implemented the cap on corporate profits, there have been 67 times more price cuts on products. Without this measure , we would have had 3-4 percentage points higher food inflation,”, Mr. Theodorikakos emphasized.

The minister continued by saying that “I have told the food industry and the supermarkets with whom I am in ongoing dialogue that in order to lift the price cap, they will have to lower prices on mass-market products. Until then, the price cap will remain in place and will be subject to monitoring to protect consumers.”

Referring to the bill on consumer-bank relations, which is being released for public consultation, he noted that “it concerns consumer and renovation loans up to 100,000 euros without collateral. A cap of 30% to 50% will be placed on the charge on the principal amount, the fine print will be eliminated, citizens will also be able to speak with a live person rather than a machine to learn details, and furthermore, the right to withdrawalfrom a loan agreement within 14 days. This will apply to contracts from November 20 onward, because the European directive does not allow for retroactive effect. “I hope that all opposition parties will support the bill,” the Minister of Development noted.

Regarding the new productive model of the Greek economy, Mr. Theodorikakos emphasized that the triple challenge of the next four-year term on the path to Greece in 2030 is: productivity, addressing demographic challenges, and reducing regional and social inequalities. “It is a national goal, a national challenge, and requires a national strategy to ensure Greece’s sustainability in the coming years and to move forward with security, certainty, and self-confidence in a highly competitive world. The policy we are pursuing leads to a more productive economy, better wages, and concerns the whole of society. For our children to make their dreams a reality, they must be able to stay here, work here, and create businesses here. “Because this cannot happen overnight, there must be support measures,” he said.

Mr. Theodorikakos noted that the problem of housing and rent is the biggest of all. “Rents have doubled and many of our fellow citizens are facing a very serious problem. And this is related to our economic model, because a very heavy burden for economic growth falls on real estate. That is why the government is providing one month’s rent per year. Something no other government has done in the past, not even Mr. Tsipras, who, I remind you, said he would tear up the memoranda in a single day.”

He also emphasized that both he and the New Democracy party uphold a single value: transparency everywhere, for everyone, and in everything. He emphasized that through coordinated efforts, the Ministry of Development has so far returned 126 million euros</from hundreds of investment projects under older development laws that were never completed, while regarding the OPEKEPE case, he noted that “it is a decades-long scandal, as hundreds of people took much more money than they were entitled to. They must return it, and justice must do what is right and punish them. As for the politicians, it turns out that the treasure is nothing but coal. Whereas they were talking about millions of euros in damages, it seems the damage was very limited, and some people were hung out to dry for no reason. However, because we respect the institution of justice, the process must be completed and the truth must come to light.”