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Socialists to submit bills aimed at mitigating cost-of-living crisis

The opposition Socialist Party on Sunday said it is submitting to parliament a series of bills aimed at mitigating the cost-of-living and "social" crises and inflation.

The party is proposing reducing the VAT on food products and certain heating methods, exempting the minimum wage from personal income tax, raising the minimum pension, doubling the family and maternity allowances, and “restoring the financial independence of local councils”, it said in a statement.

The Socialists are calling for the VAT on foodstuffs to be cut to 5 percent and for scrapping extra taxes on food products.

The VAT on firewood, briquettes, LPG, electricity and universal gas service should be reduced to 5 percent from the current 27 percent, they said.

The party also wants the old-age minimum pension to be at least 70 percent of the net minimum wage.

Also, local councils should be allowed to keep their revenues from the vehicle tax, 20 percent of personal income taxes generated in their administrative area, 20 percent of the excise tax on fuel and the local business tax, the Socialists said.

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