Sports: €9 million investment to upgrade Marsa Sports Complex. €300 tax rebate for parents who send their children to sporting activites.
Armed Forces. Further investment including allowing personnel reaching 25 years service to continue in AFM, this part of government scheme to let people continue working after reaching pension age.
Justice department. Reforms will see new courtrooms set up in courthouse.
Environment. Government to invest €700 million in environmental projects over a seven year project. Organic Processing Plant and Skip Management Facility to be built and Cirkewwa Reverse Osmosis plant to be upgraded.
Energy: Route for second interconnector with Sicily identified. Enemalta upgrades to continue. Solar panel schemes to continue.
Transport. Grant for electric cars to remain in place. Gozo ferry service under discussion with Brussels and Gozo airfield progressing.
Government will set aside €60 million towards sustainable urban development in Gozo
Land reclamation. Study to see if it is economically feasible
In Gozo all schemes for home buyers to remain for 2023
More investment in health care. Assisted Reproductive Technology Clinic (ART) services will be extended for parents trying for a second child. Chemotherapy pumps for home use free of charge and HPV vaccine will be given to all boys born in 2000 onwards. Mater Dei Hospital services to be expanded.
Lands issues where farmers rent land will be tackled.
The Justice sector and Maritime registration to get further investment.
Air Malta has a future but Malta must work within EU regulations.
Tourism to get overhaul next year.
Minister Caruana touched on residence schemes and if they could be updated.
€70,000 tax credit over three years under the Micro Invest scheme for social enterprises.
Government to extend a scheme introduced last year to help businesses affected by COVID-19 in their investments.
€40 million investment fund will be made available to SMEs while Maltese enterprises will now be able to benefit from a maximum of €40,000 tax credit when investing in digital or energy saving projects.
In education tablets for children will continue.
The tax refund cheques ranging from €60 to €140 will remain for 2023.
Minister Caruana said the government wanted to reduce income tax but current international events meant they had to focus on other priorities.
Deficit was brought down to 5.8% this year, aided by tax department collecting an extra €120 million.
Jobs are expected grow by 3.4% next year.
€10,000 grant for first time buyers.
€200 credit each year to families for every child with disability.
Grant to carers will increase from €500 to €4,500 a year, payable every three months.
People on social benefits to receive full COLA.
Children’s allowance up by €90.
Annual bonus even for those who have not paid full stamp. Less than five years of contributions will rise to €450 per year, more than 5 years but less than 10 years stamps, the bonus will increase to €550 per year.
Other increases for pensioners and widows. Up to €1.50 per week for 56,000 pensioners. Service pensions up by €200 a year. Widows to get €3.54 per week on average.
Pensions: Pensions now up to €14,968 before paying tax. Married couples for will see a further exemption of €3,600 per year.
Big point: The COLA will be increasing to €9.90 per week for all employees, pensioners, and those on social benefits. Student stipends will also increase.
Pensions will be increased to €12.50 per week and will affect around 100,000 pensioners.
Vunerable families will receive an additional allowance over and above the cost of living allowance.
The government has allocated more than €600 million in subsidies for energy and cereals.
He says that Malta imports around 40% of its food from England and Italy which have seen high rises in prices which in turn has led to increased costs in Malta.
Minister Caruana says that inflation has brought about the downfall of great powers giving Romans as example.
Five principles have guided the Labour government through recent crises, social spirit, economic stability, a shift in energy policy, fiscal health, and telling things as they are.
In his introduction, Minister Caruana says that Malta is only country in Europe where utility bills have not increased.
Finance Minister Clyde Caruana rises to deliver Budget 2023.
