The Malta Independent 20 April 2024, Saturday
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Prime Minister Joseph Muscat stresses importance of sustainable economy

Jeremy Micallef Sunday, 20 October 2019, 13:08 Last update: about 6 years ago

Prime Minister Joseph Muscat insisted on having a sustainable economy that allows for the improved distribution of wealth year on year, whilst also maintaining that a change in culture must occur with regards to the people's behaviour towards environmental issues.

Speaking at a rally in Marsaxlokk, Muscat said that the coming year will see more wealth reaching the people. He pointed out that the budget is not being treated simply as an accounting exercise, but also as an economic exercise to ensure that money is made when money is spent.

He criticized past governments that would be careless with public funds, unlike the individuals and said that businesses would then have to foot the bill when the government would spend too much money.

This government, he explained, worked to have strong foundations so that every year the system remains sustainable, and he maintains that people can be sure that year after year they will receive more money and more cheques from the government.

Moving onto the recently announced budget measures, he elaborated on the reduction in tax on hours worked overtime, where he quoted the three basic criteria to be eligible for the measure - that the first 100 hours would be eligible, that one's salary must not be more than €20,000, and that one would not be holding a managerial position.

Touching on the cost of living adjustment mechanism (COLA), he said that whilst the government does not wish to touch the mechanism, they wished to address the increases that were not yet recognized by giving another bonus to every family.

"Today we have the luxury of talking about how much the government is going to give, whilst before we used to talk about how much the government would take."

The Prime Minister also noted that not only are families receiving money, but they were also receiving something of which the value cannot be calculated monetarily - the ability to spend more time together through the returning of a third day of leave.

On the topic of pensions, Muscat that this was the fifth increase given to pensioners, mocking the 25 years that pensions were not increased.

Property was also mentioned by the Labour Party Leader, where he explained a scheme in the budget whereby those that do not have the 10% needed to take a loan for a house may be eligible for an interest-free loan from the government of up to €17,500.

"This is a government that wants to keep on the history of the Labour Party," he said.

The environment was also mentioned, with various policies being brought up during his speech such as the announcing of the cut-off date for the importation of non-electric cars, measures pertaining to the use of single-use plastic, and the bottle recycling measure.

"We must collect at least 70%. it is a way we can better work to save our environment."

Muscat insisted on investing in the future rather than waiting for Europe to make decisions, with the most important issue being the climate and the regulation on car purchases being the first step.


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