Our View: Does the labour minister not understand profit motive?

Labour minister Yiannis Panayiotou never ceases to amaze with his economic thinking. On Tuesday morning, speaking on CyBC radio, he described the increases of about five per cent in the price of cement as “unprecedented, unjustified and profit motivated.” We do not know where the minister learned his economics – he is too young to have studied at a Soviet university – but he does not seem to be aware