The Nationalist Party has highlighted a number of initiatives it would introduce to aid small and medium-sized enterprises (SMEs), with the aim of regaining a sustainable economy free from injustices.

In a press conference on Monday, PN MP Kristy Debono said that there is a great need for an immediate and effective plan which will allocate funds to SMEs, particularly also self-employed businesspersons.

Debono said that Malta's current position on the FATF's greylist has not only brought financial repercussions, but also resulted in declining trust from other countries. She added that banks have also become less business friendly towards merchants and businesses.

PN MP Edwin Vassallo said that during the recent Budget, the government failed to include any aid for small businesses, announcing only an that interest on unpaid tax and VAT will be hiked to 7.2%

Vassallo proposed several initiatives on behalf of the PN, including a lump sum payment for second-hand electric cars. He added that under a PN government, there will be a 7% VAT on all sales in restaurants and said a new PN government will extend the maximum income of the 25% tax bracket from €60,000 to €80,000. Vassallo added that there will be less bureaucracy on those who become VAT exempt.

There will be specialised due diligence units to support notaries, accountants, and other owners of small businesses, most of who are self-employed, said Vassallo.

He also said that a PN government would introduce two new ships crossing from Malta to Gozo - one of which will be for goods, in order to help tackle Gozo's importation of goods problem.

Another initiative includes the total exemption on VAT up to €10,000 on costs for the finishing of houses, said Vassallo.

Vassallo continued to say that these initiatives will aid Malta in regaining a sustainable economy, while ensuring that people employed in these small businesses earn better pay and a better quality of life.