As a Parliamentary Secretary, I am proud that as a government we presented a budget that prioritises quality of life, social equity, and sustainable economic development. This year, we have focused on responsibly managing our resources, supporting vulnerable families, investing in sustainable industries like fisheries and aquaculture, and emphasising animal welfare and environmental responsibility. Our commitment is reflected in a budget that reduces taxes, strengthens social programs, and lays a foundation for economic growth built on quality.
Tax relief and economic stability
In 2025, once again, we will not be introducing new taxes. Instead, this budget presents a notable reduction in income tax across various brackets, positively impacting 70% of taxpayers. For the average Maltese family, this means substantial savings that can be redirected toward household needs and well-being. These reductions were made possible by Malta's strong economic performance and careful fiscal management, allowing us to decrease the deficit while maintaining essential social programs and introducing new investments.
Supporting families and social well-being
This budget provides meaningful support for families and vulnerable groups. We have increased the children's allowance and introduced tax incentives for working parents. Families with two children, for instance, will benefit from an additional €1,800 annually through tax reliefs and allowances.
For families with children who have special needs, we are increasing disability allowances and facilitating access to therapy funding, understanding the unique financial and emotional burdens they carry. This government recognizes that strong families create strong communities, and our support for families is a testament to this commitment.
Fisheries, aquaculture and environmental sustainability
Ensuring Malta's long-term food security requires sustainable practices and a renewed interest from younger generations in fields like fishing and agriculture. In Budget 2025, we have allocated funding specifically to support the regeneration of these sectors, encouraging youth to pursue careers that uphold Malta's self-sufficiency and food sovereignty. Through targeted incentives, young people entering agriculture and fishing will have access to grants, training programs, and technological support that can help them succeed.
The sustainability of Malta's natural resources is critical, not only for our environment but also for our economy. This budget dedicates substantial resources to developing and safeguarding our fisheries and aquaculture sectors, essential industries that provide food security, jobs, and export opportunities. By supporting more sustainable practices, we aim to protect marine biodiversity, ensure responsible fishing, and promote aquaculture that respects ecological balance.
For fisheries and aquaculture, we are investing in sustainable practices, such as advanced equipment that reduces environmental impact, and subsidies for eco-friendly technologies. Agriculture will also benefit from initiatives like water-saving irrigation systems, organic farming support, and small business grants for young farmers. By equipping young Maltese with the tools and resources they need to thrive in these industries, we're building a resilient supply chain that serves both the local economy and our communities.
Prioritising animal welfare and rights
As a government committed to social progress, we are furthering our investment in animal welfare, reflecting the Maltese people's growing compassion for animals. This budget allocates funds to enhance animal shelters, promote responsible pet ownership, and strengthen animal protection laws to prevent abuse and neglect. Additionally, we are working with animal welfare organizations to ensure stray animals are cared for and given proper homes, aiming for a compassionate approach to managing animal populations.
Animal welfare in agriculture is also a priority, with new initiatives to ensure that livestock in Malta is treated with dignity and care. By setting higher standards for animal husbandry, we reinforce our commitment to humane practices across all industries that interact with animals.
Pensions and support for the elderly
In line with our dedication to social well-being, this budget introduces a historic increase in pensions, ensuring that our elderly citizens receive the financial support they need to enjoy their later years with dignity. With an €8 weekly increase in pensions, retirees across Malta will see a real improvement in their quality of life. Additionally, we are expanding access to health benefits for older citizens, reducing medication costs, and providing financial assistance for specialized healthcare. This government believes that no elderly citizen should face hardship in their retirement years.
Investing in sustainable and high-quality economic growth
A key pillar of this budget is sustainable, high-quality growth driven by innovation, education, and skilled labour. We are investing in advanced training programs and encouraging the development of start-ups in fields like artificial intelligence, engineering, and data science. These initiatives will allow Malta to compete globally in sectors that are vital to the future economy.
Our approach to labour also emphasizes quality over quantity, including a careful review of foreign labour dependency to better align with Malta's long-term needs. By focusing on high-quality investments that provide well-paying, meaningful jobs, we are setting the stage for an economy that serves the Maltese people and adds real value to our society.
Budget 2025 is a testament to our values. It provides tangible support for families, promotes sustainable economic growth, upholds social equity, and prioritizes environmental and animal welfare. This budget reflects our commitment to the Maltese people by focusing on quality of life, sustainability, and a forward-looking economy that serves all citizens.
As a parliamentary secretary, I am proud of this vision that positions Malta as a leader in compassionate governance, environmental responsibility, and resilient growth. Together, we are building a stronger, fairer, and more sustainable Malta for generations to come.