During the presentation of New Democracy’s (ND) development plan, Greek PM Antonis Samaras noted that if ND wins the general elections on January 25, his government will proceed with tax cuts, also pledging for no further reduction in pensions and salaries as well as a protection of the primary residence.

Moreover he noted that his party’s programme includes, among others, (a) a progressive reduction in the current unified property tax (ENFIA) as of this year, (b) decreases over the entire range of income taxes, with 33% being the maximum rate for private individuals (currently at 42% – ex social solidarity levy max rate of 4%), (c) a targeted flat corporate tax rate of 15% (currently at 26%) and (d) incentives for the repatriation of funds that were moved outside Greece during the crisis .

According to Mr. Samaras a €54bn boost to country’s GDP is expected during 2015-21e, which will result in the creation of 770k new jobs. In order for this GDP expansion to be realized €150bn of investments are needed, of which €38bn will be EU funded, €6bn from national resources and €106bn from other investments (€50bn refer to direct investments, of which €23bn have already been approved).