9 September 2025 - COLA as a tool for bridging inequalities.
Volt supports the institution of COLA and its expansion to all sectors of the economy. In fact, it is our basic principle, as well as the priority of the European Union, the need to expand collective agreements in all sectors, something that Cyprus lags behind other member states.
However, our position is pragmatic: we do not seek COLA for the sake of COLA, but the effective implementation of the philosophy that governs it, the safeguarding of the purchasing power of workers, especially in periods of increasing costs.
To achieve this goal, we believe that COLA should be granted in stages, based on measurable criteria, such as salary levels. In this way, low-wage workers, who are disproportionately affected by the increase in the cost of living, will receive full protection, while for higher incomes the adjustment may be partial, or even zero.
High-wage workers, whose consumption is less affected in periods of inflation, have less need for indexation protection. On the contrary, low-wage workers are forced to degrade their quality of life, with deprivations that in many cases reach the poverty line.
As for the general strike, we fully recognise the right of workers to make demands through mobilisations. However, we emphasise the need to find a substantive solution that will not be disproportionate, nor will it perpetuate past distortions, such as the unequal treatment of the public and private sectors. The need to maintain industrial peace cannot be an excuse for implementing such practices, but rather lays the foundation for sustainable solutions, social justice and economic stability.
Volt’s proposal for a fair and targeted implementation of the COLA aims to protect those who need it most, promoting social equality and the prospect of a better future.