Copyright timesofmalta
Monday’s budget will see “massive” new incentives to help families raise children, Prime Minister Robert Abela said on Sunday. Speaking during the closing of Labour’s annual general conference, Abela pledged the massive paclage of incentives will not be accompanied by new taxes or tax increase. Abela said the fiscal incentives planned for Monday’s budget place a huge responsibility on the government to keep up Malta’s track record of strong economic growth. He said the “ambitious budget” is not an easy one to implement. “I ask, which of the two teams do you believe can see it through? We have not even seen a pre-budget document from the Opposition. At their best opportunity to offer an alternative vision, they are silent. We do not know what they stand for. “They have no one capable of drawing up a pre-budget document, let alone leading the strongest economy in Europe. Who will do it? Jerome [Caruana Cilia], Graham Bencini? Adrian Delia,” Abela questioned. Energy prices frozen since 2013 Abela described the government’s continued freeze on energy and fuel prices as the most important measures implemented over recent years. Families have saved, on average, €6,000 each over the past three years thanks to these measures, Abela said. The prime minister said Malta was the only country that had not seen an increase in these prices since 2013. He emphasised that Malta’s economic growth is what allows the government to support these measures and incentives. The prime minister welcomed a recent EY survey, which saw investor confidence in Malta shoot up from 54% in 2024 to 79% this year. According to the same survey, 9 out of ten businesses based in Malta not only plan to remain in the country, but expand their operations here, Abela added. He said government revenues have exploded upwards by hundreds of millions, without any new tax increases, and without carrying out any “witch hunts” on businesses. Planning reforms Abela hit back at claims that the government is to press ahead with planning reforms without taking into consideration the concerns raised about the proposed bills. The prime minister said on Saturday he intends to take legal action against the Nationalist Party media over an article regarding the controversial planning laws. Two controversial bills for reform of the planning process were presented to parliament at the height of the summer lull, and were widely panned by environmentalists for opening the door to destructive development. Abela assured that the proposed laws will be amended based on the feedback received following numerous meetings with environmentalists and “other stakeholders”. “The process is still ongoing. Once this is done, we will once again sit down with environmental NGOs and understand everyone’s needs,” Abela said.
