The government plans to announce and legislate a new “package” of tax cuts and income support, totaling at least 1.5 billion euros, for the two-year period 2026-2027.
The first sign of new fiscal space, which will allow the implementation of the new relief measures, emerged after the budget report on Wednesday. The report outlined the operation of the new fiscal rules and their impact on the formation of fiscal space for tax relief and income support measures in the three-year period 2024-2026.
According to the report, after the implementation of the national escape clause for defense expenditure, an additional fiscal space of 0.3% of GDP or 750 million euros is being created this year and can be allocated for new tax breaks and income support within the current year.
This fact gives the government the opportunity to announce an additional package of measures in April, when the fiscal figures for 2025 will be finalized. A similar move happened last Easter, when the return of a rent to 950,000 households and the permanent allowance of 250 euros for pensioners over 65 and for certain vulnerable groups of the population were announced.
In addition to the fiscal space of 750 million euros that will allow new relief measures in 2026, competent sources at the Ministry of National Economy and Finance already estimate that there will be fiscal space available of at least another 800 million euros for new tax relief and income support measures, with implementation starting in 2027.
These measures, which – as “N” has already revealed – are expected to include tax reductions mainly for businesses, as well as reductions in social security contributions, and will be announced by Prime Minister Kyriakos Mitsotakis at the 90th Thessaloniki International Fair (TIF) in Thessaloniki.
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