Financial Times
September 27, 2011
Τhe Greek parliament is expected to pass an unpopular new property tax on Tuesday in an attempt to satisfy international lenders and pave the way for the next bail-out tranche, despite the objection of a number of deputies in the ruling socialist Pasok party.
Pasok may be able to muster the backing of all 154 of its deputies even though one of them publicly said he intended to resign his seat in protest at the austerity measures, and claimed that some of his colleagues were thinking of doing the same. A resignation would not alter the balance in the 300-seat parliament.
The new property tax will apply, with a few exceptions, to all electricity-powered buildings. Those who refuse to pay will have their electricity cut off, according to the draft law. The government estimates the new tax could raise €2bn to €2.5bn a year, bringing the budget deficit closer to this year’s target of €17bn-€17.5bn, although others think it will raise a smaller amount.
Householders may be forced to pay up to a maximum of €20 a square meter under the property tax which comes on top of other taxes which the state has not yet collected because of bureaucratic and technical problems.
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