During a meeting of the Malta Council for Economic and Social Development (MCESD), Director General Kevin J. Borg outlined the recommendations put forward by the Malta Chamber as part of the consultation period leading up to the Budget for 2019.
Mr Borg said that future Budgets should be approached from a holistic multi-annual perspective which incorporates a thorough impact assessment of the carrying capacity of the country in terms of economic, societal and environmental considerations.
"This multi-annual exercise could initiate preparations of new medium-to-long term economic and development plans on where the country wants to be post-2020. Consequently the country could benefit from efficiencies that allow it to increase output and wealth sustainably with a constant level of applied resources" Mr Borg said.
The Director General also mentioned some of the 60 recommendations which the Chamber compiled after a consultation process with its members, and presented to the Ministry of Finance.
In fact in its pre-budget document, the Malta Chamber lists as a priority the financing of a holistic transport strategy to shift towards a sustainable and effective multi-modal transport system.
Focusing on the employment of foreigners, the Malta Chamber also proposed the strengthening of Identity Malta with more resources to enable better streamlined procedures for recruiting third country nationals.
Mr Borg also said that government should consider extending all types of work-based learning across all post-secondary and tertiary level education institutes as well as establishing a new national competitiveness agency to ensure that the economy is not hampered by new and excessive regulations, measures and taxes which negatively impact competitiveness.