In its pre-budget document, the Malta Chamber is expected to focus its attention, on the importance of an efficient and sustainable labour market that can accommodate the requirements of a growing competitive Maltese economy.
Director General Kevin J. Borg, told this portal that amongst other issues that the Chamber is planning to tackle amongst its recommendations to Government for the coming year also include planning for a general upgrade in the country’s infrastructure, fiscal incentives and the prices of energy for business.
Malta’s thriving economy has brought about serious shortages of skills availability across all categories of employment. As a result, businesses are experiencing major difficulties in retaining and recruiting staff at all levels. This is being evidenced concretely by consistent feedback from Chamber members. As a result the Chamber will propose a number of concrete short-term solutions to alleviate the immediate pressures on wages and the labour market. Other solutions for the longer term are also envisaged.
On the subject of long-term planning, Chamber will also suggest for the country to exploit the current positive public finances situation to rectify long-standing issues that threaten long-term fiscal sustainability. In other words, the Chamber will reiterate its recommendation for the country to utilise part of the proceeds from its current economic success to invest in tomorrow’s competitive requirements.
In putting together its proposals for the 2018 National Budget, the Chamber has called for feedback from its internal committees and individual members. To this end, it is further envisaged that the Chamber’s forthcoming position paper will also tackle ongoing issues for members such as the simplification of bureaucratic practices, the future of Air Malta, the continued abuse in free movement of goods, excise duties and investment in research, development, technology and innovation.