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It was bound to happen. With four years left before the next general election, the Prime Minister, also acting as Minister of Finance, announced new measures that will add new burdens on the consumer, while covering little ground in boosting consumer confidence. READ
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• Deficit at Lm98.2 million • Level of savings down by Lm 21 million • Unemployment up to 7,382 or 5.1% • Tourism up by 2.3% • GDP growth at 0.6% • Imbalance in trade flows, at Lm319 million • Inflation at 2.57% up from 1.1% • Investment in manufacturing down by 0.6%
• Consumption tax surcharge on water and electricity of 17% • A duty of 3% on mobile telephony • Registration of VAT registration for those constructing buildings • Cigarettes up by 5 cents • Kerosene up to the price of diesel • Public transport tickets 5 cents up • Eco tax on more products • Proposal to bring pension age up to 65 • Proposal for average pension to be worked over 40 years • Passenger departure tax up to Lm20. • Holidays on Saturdays and Sundays not to be added to leave
• Sale of shares in Interprint • Strategic partner in Tug Malta • Sale of shares in Malta Dairy Products • Sale of 20% in MIA • Sale of three hotels belonging to Air Malta • Strategic partner in the distribution gas at Enemalta
• Tax incentives for research • Tax incentives for getting women back to work • Aiding the underprivileged • Stopping application of tax on subventions to cultural entities • Incentives for e- commerce • Venture capital fund of Lm900,000 • Children’s allowance threshold increased • Aid to parents with children with special needs
Interview
Jack Uldrich - writer, speaker and consultant to Fortune 500 companies, US government agencies and venture capital firms – is to be a keynote speaker at the 7 December seminar on Business Leadership at the Foundation for International Studies. Here he answers some questions about his latest book and how its lessons can be applied to the business environment in Malta
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OPINION
Competitiveness and Communications Minister Censu Galea addresses Monday’s conference on competition law organised by the Consumer and Competition Division
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NEWS
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