Continuity. Certainty. Stability. These are three key principles that guide us as a government in the drafting of the annual budget, particularly in such unprecedented times, as we pave the way for another year that seeks to support families, give businesses a boost and guide the country to new and improved developments in different sectors.
Budget 2023 has kept this promise: the promise of a government that offers stability and stands by its citizens as it delivers a progressive and socially just programme during trying international times. It is hard not to analyse the Budget without taking into consideration what's happening in Europe and the rest of the world. The toll left by the pandemic, the shocks sent by the Russian war on Ukraine, the spiralling inflation and exorbitant energy prices have left many unable to cope with their daily expenses.
The main difference between 'them' and 'us' lies in one fundamental decision: that of a government that has refused to transfer the burden of increased energy and cereal prices onto consumers and businesses. It is not some magic formula; but an economic direction of a Socialist Government that refuses to adopt measures of austerity and instead pushes in favour of space for growth. To put things into perspective: had we decided to follow the path of 2008, and transfer the prices of energy onto consumers, the burden would have been heavy. A utility bill that amounts to €100, would today amount to circa €230. A business that pays €500 in utility bills, would end up footing an approximate €1,200 bill.
The perseverance of the past years, good management and a progressive energy policy are chief amongst the reasons that have allowed us to absorb these costs, whilst allowing us the flexibility to source our energy at the points that benefit our country the most. It also required us to ensure strong, determined negotiations with the European Commission, allowing us to derogate from mandatory and gas use reduction - which would have otherwise been catastrophic for our enterprises and industries. In turn, whilst this Government will be saving citizens €600 million in fuel, electricity and gas prices, we will continues pushing and encouraging energy efficiency and energy saving measures. Because whilst we want people to be comfortable, responsibility is equally important.
Budget 2023 continues to allocate schemes and incentives for households and businesses to invest in renewable energy and energy efficient measures. It also incentives businesses to further invest in efficient operations, at the same time opening up opportunities in green careers. Achieving a climate-neutral economy is not only beneficial for the profit margins of a company, but it holds environmental benefits whilst creating new and niche job opportunities.
This legislature's first Budget also delivers a clear commitment on one of the Labour Party's main electoral measures: the implementation of the €700 million green promise, which seeks to deliver greener spaces, reclaim urban land and provide a better green environment overall. This will be delivered through the setting up of an agency that will be specifically focused on delivering several projects.
Protecting our green also requires us a country to deliver on waste management. It is no doubt a challenge that was left unattended for far too long. A challenge we have to address sooner rather than later. We have taken the bold step of introducing new gate fees as of 1st January 2023 - an ambitious decision, with a staggered approach, that will benefit the environment and incentivise those operators who choose to separate their waste accordingly. Thanks to WasteServ, we are taking waste management to the next level, investing heavily in the appropriate setups and allowing us to turn waste into an energy resource. We want to transform today's stark reality - where 90% of waste ends up in landfills - to just 10% in the years to come.
Improved environment, a better quality of life, affordable energy prices, job opportunities and space for economic growth can only be delivered if the government creates the right economic environment that allows its domestic markets to grow and develop sustainably, whilst attracting quality foreign investments. A Budget of certainty and stability, which measures will surely not disappoint.