Britain was an ally on issues such as taxation, and that is the largest impact on Malta, Prime Minister Joseph Muscat said Sunday morning.

Speaking from Brussels on the matter of Brexit, Muscat said that everything should be taken care of and that the deal is done "on paper", with no final problems arising and the subsequent issue risen between Spain and Gibraltar having been decided on.

"This morning should only be a formality"

The Prime Minister insisted that it is now up to the British parliament to agree on the details between them, and not on the European Union.

He did note that Britain agreed with Malta on issues such as taxation, and that this is the "largest impact" on Malta from this procedure.

"You have the largest country that thinks like us no longer around the table."

"That is the largest impact - that we are losing an ally on issues where we see eye to eye."

Budget approval

Moving onto the Budget, he recalled that back when Labour was elected into government the first budgets being reviewed by the EU were not being accepted as it was not reaching the prescribed targets.

He drew a comparison to what Italy is going through at the moment with their own budget where Brussels is rejecting their measures.

Muscat praised the improvements done in this regard whereby Malta's budget went from being barely accept to being praised, noting the comment made by Brussels not only with regards to the surplus achieved, but also positive comments about social measures particularly on increases to children's allowance and pensions.

Gozo and Cannabis Forum

On the matter of further investment in Gozo, Msucat said that the opening of new offices by Noovle, a company tied to Google, was a significant development, and that this shows that economic rejuvenation was taking place on Malta's sister island.

After the "fantastic" Medical Cannabis World Forum which took place at the Mediterranean Conference Sector this week in Valletta, Muscat was happy to see "world leaders in this sector coming to Malta to witness what we are doing this area".

He also noted that Malta Enterprise has already announced that ten companies will be opening in Malta, with the process to be given a license by the Malta Medicine Authority already underway. He also noted that ten other companies were reject, which he said is evidence that there is a good level of control being met.