The rent regulation reforms are expected to be issued by the end of the year, Prime Minister Joseph Muscat said today.

Asked by this newsroom for an update on these regulations, he said that he hopes to have it concluded and published in summer before the budget.

"We are taking our time as we know that this is such an important sector where today, little regulation exists.

"Our aim is summer but if it takes till September or October, I would prefer it happen a few months later to ensure things are done well. I prefer taking a few months longer and not rush on this."

Muscat also addressed a PL activity. During this activity he said that there are calls for government regulation not government intervention. He stressed the need for regulation not to be based on just the immediate needs. As an example, he said, back in 2013 there were calles for the introduction of an empty property tax. Today, he said, that phenomenon reduced drastically.

He said that 80% of Maltese an Gozitans are home owners. "We don't want to do things where, people who invested funds to buy property, have the value of their property reduce. The policy must help those who need help, and that is what we are doing through targeted policies."

Speaking about Malta's economic surplus, he said that it is a means to an end, and not the end in itself.

In today's day and age, he said, it is clear that people are expecting more when it comes to quality, whether it is quality of life, infrastructure and others. That is the major challenge Malta has to face for the next generation, Muscat said.

He said that the discussion is not only about how much pay a worker would receive, but how much family time would they have.

He said that ten years ago, many people were content with whatever job they had, even if it was at minimum wage, as the economy stagnated. Today, there are sectors where offering the minimum wage is a non-starter.

Turning to the budget exercise, he said every year it is essentially our state of the union. He said that It is an exercise aimed, specifically, at addressing problem areas.

The Prime Minister also addressed infrastructural issues, not just those related to roads, but also cultural ones. Speaking about Fort Ricasoli, he said that currently work in underway regarding a masterplan. He said it is an important site for films and is of national heritage asset. He said he wants to marry the two aspects in a way that the site will be invested in. He said that some emergency works on the site have already taken place.

On foreign workers, the Prime Minster said that Malta has near full employment, adding that government will work to ensure that there is no exploitation of workers.