The Cyprus Parliament narrowly rejected a bill proposed by AKEL General Secretary Stefanos Stefanou, which aimed to introduce a 5% solidarity levy on the windfall profits of credit institutions.

With 25 votes in favor, 25 against, and 4 abstentions, the bill was defeated after the tie-breaking vote of the House Speaker. The proposal was supported by AKEL, EDEK, ELAM, the Greens, DIKO MP Zacharias Koulias, and independent MP Kostis Efstathiou. Four MPs abstained, including independent Andreas Themistokleous, DIPA MP Michalis Yiakoumis, and DIKO MPs Pavlos Mylonas, and Christos Orphanides. Opposing votes came from DISY, parts of DIKO, DIPA, and independent MP Alexandra Attalidou.

The proposed legislation sought to address inequalities and create a fairer distribution of the financial burdens caused by rising inflation and consecutive interest rate hikes.

The plenary session preceding the vote lasted over three hours and was marked by heated exchanges among MPs.