Chamber News

A better balance between social measures and economic recovery 

22nd October 2020

“Government is aware of the destination but not the journey that needs to be taken”

During the television programme ‘TVAM’, The Malta Chamber Deputy President, Marisa Xuereb weighed in on the 2021 budget.

The Deputy President said that the 2021 budget was generous in terms of social measures, yet fell short to provide the elements necessary for economic recovery, as the incentives mentioned were quite vague.

“This could be due to the fact that no one knows how long this current crises due to the pandemic will last. Moreover, the investment which is currently being made focuses on the employers and employees who have been directly affected by COVID-19 rather than emphasising on how businesses should look beyond this period and prepare themselves for the post-pandemic” said Xuereb.

Focusing on the tourism industry, Xuereb stated that more incentives should have been put in place to retrain and upskill workers in order to focus on quality, rather than quantity, with regards to this sector.

She stated that a number of chapters within the budget clearly show that the government is aware of the destination but not the journey that needs to be taken. “This can only be achieved through constant communication between the Government and business entities to discuss the policies that need to be formulated to achieve smart goals” said the Deputy President Xuereb.

Commenting on the upcoming MoneyVal test, the Deputy President said “As a Chamber of Commerce, we are pleased with the various developments that have been undertaken in terms of good governance throughout the past months. However, we hope that we will keep in mind that Moneyval, good governance and restoring the country's reputation is a process not a single test, and that all major stakeholders need to align themselves towards this goal” said Xuereb.


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A better balance between social measures and economic recovery