Budget 2018 Date Set For 9 October

7th September 2017

The 2018 Budget will be announced on Monday 9 October, Finance Minister Edward Scicluna has confirmed.

The 2018 Budget will be announced on Monday 9 October, Finance Minister Edward Scicluna has confirmed.

Prof. Scicluna said that the priorities for the upcoming Budget would be strengthening Malta’s infrastructure, and making sure that everyone enjoys the fruits of Malta’s strong economy.

The Malta Chamber has already submitted its pro-business, pre-Budget proposals to the Finance Minister.

They include a number of measures that would help businesses overcome the expensive energy tariffs they incur, which is among the highest in Europe. This includes an improved Night Tariff framework, purchasing flexibility as well as the introduction of privately managed energy distribution substations.

The Chamber also warned that continuous extensions to leave allowances, the potential introduction of parental sick leave and the compensation for public holidays falling on a weekend were considered a ‘grave concern’ which would only serve to further erode Malta’s competitiveness.

As a solution to Malta’s recruitment challenges, the Malta Chamber called for added efficiency to the complex work-permit application process for the employment of non-Maltese employees, along with the setting up of additional fast-track processing schemes.

The Chamber also urged Government to urgently establish the proposed Malta Development Bank, before several opportunities of investment, were lost. It was imperative for the Chamber, that the Development Bank would be operational within a reasonable time frame.

The Chamber also made a number of other recommendations relating to Infrastructure, the National Airline, RTDI and Access to Finance. All the recommendations dovetailed into the Malta Chamber’s overarching objectives to exploit the current positive standing of public finances to rectify structural issues that threaten long-term fiscal sustainability, and to further enhance the factors that contribute to Malta’s competitiveness.

12th September 2017

Finance Minister Edward Scicluna noted that the country’s emphasis had shifted from high utility bills and hospital waiting lists in 2013 to issues like the environment, roads, and public cleansing in the space of four years.

7th September 2017

Finance Minister Edward Scicluna held a public consultation meeting in Gozo ahead of next month’s budget where he emphasised the need to upgrade the country's infrastructure and to boost the island's private sector.

4th September 2017

In its proposals to the Finance Minister as part of the pre-Budget consultation process, the Malta Chamber highlighted the fact that energy prices for medium sized companies in Malta are 42 per cent higher than the EU average, making the price for energy which is being paid by Maltese businesses the highest across Europe.