The only certainty is tax hikes

The additional income tax burden amounting to 1.8 billion euros or 1 percent of gross domestic product is the only tax measure certain to be enforced in the coming years. The promises of easing the burden on the middle class will only be activated if the government manages to exceed the target for a primary budget surplus of 3.5 percent of GDP. For those on lower incomes, the application of the so-called countermeasures will only soften the new blow.

The fresh tax hike will start applying from 2019 and if it fetches the anticipated results then the government at the time will be able to reduce the minimum income tax rate from 22 percent to 20 percent and bring the smallest solidarity levy rate that currently stands at 2.2 percent to zero along with a reduction to the higher rates.

Even with the drastic cut to the tax discount the government has agreed with its creditors...