A “Patriotic Contribution” on the Wealthy and an End to Advance Tax: Alexis Tsipras’ Economic Plan

Alexis Tsipras presented ELAS’s economic reconstruction plan in Thessaloniki, combining a wealth levy on Greece’s richest citizens with broad measures aimed at easing pressure on households and raising domestic production.

The centerpiece is a proposed National Convergence Fund to finance infrastructure. It would receive €12 billion in primary capital over four years, funded through public investment and the redirection of Golden Visa revenues. Through leverage, its investment capacity could reach €25 billion. The plan identifies water security and social housing among the mature projects it would support.

Tsipras also proposed a “Patriotic Contribution” for the wealthiest 1% of Greeks, set at €1 a year for every €100 of net assets. The measure would replace other general charges on large property holdings, while a national digital register of assets would be completed immediately. Individual businesses would be exempt from advance tax payments and the business levy. Families with children would receive double the existing tax credit, and systemic banks would return to normal taxation after three years of protection for their capital adequacy.

The plan sets a target minimum wage of €1,000 by 2027 and an average full-time wage of €1,800 by the end of a four-year term, with collective bargaining agreements restored to support the increases. It also calls for average electricity-bill cuts of 30%, a guaranteed household energy allowance at a fixed price, and an immediate reduction of VAT on basic food and hygiene products to 6%. A new digital price observatory would monitor the reductions.

ELAS further proposes 50,000 new social homes for young people over four years and sharp restrictions on short-term rentals in areas facing severe housing shortages. In education, it would abolish nationwide university entrance exams and introduce a new impartial system. Teachers would receive an immediate €300 monthly pay rise, while doctors and nurses would receive an average €500 increase. Over a decade, five ministries would move outside Attica, including Industry to Thessaloniki, Agriculture to Larissa and Tourism to Heraklion, Crete.