Learn what Government is proposing for the next Budget and give us your proposals! [email protected] GRTU is currently drafting its proposals for Budget 2014. Below you will finds a summary of what is Government proposing. What action and fiscal incentives would you like to see in Budget 2014 that will help your business? If you would like to explain your ideas verbally we would also be happy to meet you. Email us on [email protected] Budget 2014 Budget 2014 Aid to enterprise o Action in relation to enterprises’ energy costs, innovation, access to finance, regulatory burdens, ensuring connectivity and sustaining efforts in ICT coupled with an industrial policy which builds on the competitive advantage of fast growing industries. o Strengthen the manufacturing sector to focus more on high value added goods through the encouragement of both local and foreign investment. o Exploring new sectors which can lead to the diversification of Malta’s touristic product – heritage and cultural tourism, diving tourism, language learning tourism, cruise liner tourism, domestic and winter tourism. o The creative economy, which incorporates the sectors of information technology, digital gaming and the film industry among others, will be further incentivized given Government’s confidence that this sector can grow into an important pillar of the economy with the proper attention. Energy, resource efficiency and the environment o To reduce Malta’s dependence on oil as a source of energy and reduce electricity and water tariffs for households and businesses: Shifting Malta’s generation of energy from one which is completely dependent on oil to a clean, lower-cost electricity to be sourced from new investors in liquefied natural gas storage, re-gasification and natural gas supply infrastructure and a combined –cycle gas turbine electricity generating plant. o Encourage update of technologies which produce energy from renewable sources. o Addressing Malta’s barriers to achieve transport-related renewable energy sources. o Establish the necessary organizational structures to address the sustainable use and management of rural resources, while also pursuing the creation of a research network that can enhance the science-policy interface by developing the framework for a new Environmental and Resource Authority o Develop a National Water management Plan which takes a holistic view of the water sector and ensures protection of Malta’s groundwater resources by establishing regulatory and economic instruments to encourage the efficient use of water resources, introduce best practice initiatives promoting water demand, and also develop a nationwide water conservation campaign to increase awareness. o Ensure that supply and provision of water and sewerage services are at an affordable cost and sustainable level of service, while also improving Malta’s national rainwater catchment, but also to ensuring adequate protection from flood events to residents and businesses in affected areas. o Implementation of integrated systems for waste management at Wasteserv Malta Ltd, which will explore the ways on how to improve the minimization, collection, transport, sorting, reuse, utilization, recycling, treatment and disposal of solid and hazardous waste. o Government will also pursue various Waste management related projects, which include but are not limited to the rehabilitation and restoration of closed landfills at Maghtab, Sant Antnin and Qortin Gozo; the construction of a new Civic Amenity Site at Attard/Ta` Qali; Malta North MBT Project; Gozo Waste Treatment Facility; Hazardous Tratement Plant; Construction of an autoclave as an ancillary to the MTTF. Raising skill and education levels, promoting lifelong learning and increasing labour force participation o Lowering the level of early school leavers in Malta (In 2012 second highest in the EU) o Address literacy levels through an Intensive Literacy Programme o More investment and the creation of quality jobs if the Green Economy is developed in a sensible and sustainable way, and will be delivering policies intended to achieve such developments o The maritime and aviation sectors also represent economic sectors capable of further development , contributing towards the diversification of the economy and the creation of more high quality jobs for Maltese and Gozitan workers o Reintegration of unemployed into employment – ‘back to work’ scheme o Raising the participation rate of females, improving skills of those already in the labour market to raise productivity and attracting into the labour market persons depending on social benefits. o Upgrading skills of workers within enterprises to ensure the enterprise remains competitive Improving the quality of life o Childcare centres free of charge and broaden and strengthen services already offered by Club 3-16 (after school care service within school structures) for those families whose children are over the age of three to encourage parents to work o ‘Income Transfers’ – improve household incomes through direct cash transfers for pensions, social security and child benefits o Assist people with disability to lead an independent life o A health care strategy that is crafted upon a people-centred approach so that individuals, families and communities, health practitioners, health care organizations and health authorities, mutually reinforce each other with the purpose of achieving real transformation in our health system o Responding to increasing demand and challenges posed by the demographic changes (paying specific attention to vulnerable groups), achieving timely access to health service, medicines and health technologies, improving quality care by ensuring consistent quality care delivery through a competent healthcare workforce supported by the appropriate infrastructure, technology and information system , and securing the sustainability of the Maltese Health System. Gozo o Create sustainable, good quality and productive jobs in Gozo through the creation of a conductive socio-economic environment while at the same time protecting the inherent and distinctive natural features that distinguish the island. o Create the right environment for the attraction of productive investment to Gozo through special incentives, which include start-up tax credits to new business o Fiscal incentives to businesses for the creation of jobs in Gozo including a refund on wages for every new job created. o Promote Gozo’s potential as a back-office work location through the continuous modernization of the public sector and telecommunication service o Build a cruise liner facility to help attract tourists to Gozo o Launch cheaper ticket schemes for travel between Malta and Gozo o Free Wi-Fi on Gozo Channel vessels o Continue research on a permanent link between Malta and Gozo o Introduce a viable helicopter service and a rapid sea service between the islands Sustaining public finances and reducing the burden of public debt o Independent Fiscal Institution to monitor compliance with fiscal rules, etc… o Multi-Annual Medium term Budgetary Framework to provide pathways for public expenditure o Comprehensive spending review for Ministries with the aim of cost-savings o Redirecting state-owned enterprises towards financial sustainability
Posted on: Thu, 19 Sep 2013 08:52:39 +0000
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