A six-week public consultation has been launched on Malta’s proposed National Strategy for Financial Capacity 2026-2031, aimed at helping people make more informed financial decisions and build greater financial resilience.

The strategy, launched by the Ministry for Social Policy and the Family, sets out a long-term framework designed to provide people with the tools and opportunities needed to make informed financial choices, plan for the future, avoid unnecessary risks and have greater control over their finances.

The ministry said the strategy will establish a clear direction for the coming years, while strengthening coordination between the parties involved and promoting an approach based on evidence, research and collaboration.

Speaking at a conference announcing the consultation, Minister for Social Policy and the Family Michael Falzon stressed the importance of sustainability, financial planning and responsible money management.

“We are continuing to strengthen all structures in order to provide information, tools and skills for people who want more help on the subject,” Falzon said.

He said people need to be resilient and that a framework should be created to help children and future generations understand the importance of long-term financial planning.

The consultation comes alongside the launch of a new debt advice service, Flusi Malta, which will provide professional support to individuals and families seeking guidance and assistance with debt, including outstanding bill payments.

Chairperson of the Pensions Strategy Group Mark Musu welcomed the Government’s acceptance of the group’s recommendations to create the debt advice service.

Musu said the service would need to be supported by competent and qualified professionals and noted that, in collaboration with MCAST, an accredited programme had been developed to provide specialised training to those delivering the service.

The first group of qualified debt advisers was recognised as part of the initiative.

The financial capacity initiatives were developed by ĠEMMA, the Ministry’s financial education platform, together with the Foundation for Social Welfare Services, MCAST and the European Consumer Debt Network, which contributed to the design of the services.

The six-week public consultation is now open for submissions on the proposed National Strategy for Financial Capacity 2026-2031.