The Government will present a Budget that continues to provide clear direction, courage and confidence, while strengthening the sense of positivity and continuing to support an economy that is achieving positive results.
- Prime Minister Robert Abela during a meeting with representatives of the Chamber of Small and Medium Enterprises as part of a series of consultative meetings ahead of Budget 2027
During a consultative meeting on Budget 2027 at the Auberge de Castille with representatives of the Chamber of Small and Medium Enterprises, Prime Minister Robert Abela stated that Budget 2027 will be another important step towards translating the long-term vision for Malta into more opportunities for businesses and a better quality of life.
The Prime Minister noted that discussions are currently underway on two important areas, that of the national Budget for next year, as well as the European Union’s Multiannual Financial Framework for the period 2028-2034.
He said that, despite international geopolitical challenges, and the increase in energy prices abroad, the Government will continue to provide the necessary support in strategic sectors such as energy, in order to maintain stable prices for our families and businesses.
Dr Abela stressed that small and medium-sized businesses are not only the backbone of the European Single Market, but also a key pillar of the Maltese economy. Therefore, despite the turbulent international and geopolitical situation, the Government will present a Budget that continues to provide clear direction, courage and confidence, while strengthening the sense of positivity and continuing to support an economy that is achieving positive results.
He stressed that an increasingly strong and competitive economy requires long-term planning, which looks beyond today’s immediate needs, as well as decisions that further strengthen sustainability and create the necessary incentives for sustainable growth. He maintained that, just as this Government has provided the necessary support in difficult times, including during the pandemic, it will continue to do so, with greater strength, in the future.
Dr Abela highlighted the digital transition as central to enabling businesses to continue to grow and become increasingly innovative. He referred to various initiatives and schemes aimed at encouraging investment in digitalisation, automation, artificial intelligence and research and development. He explained that these aim to help businesses increase productivity and strengthen their competitiveness, not only in our country but also beyond. He added that investment in technology must go hand in hand with investment in workers.
In fact, Dr Abela noted that to date around 40,000 people have registered for the AI for All initiative, while 23,000 have already successfully completed the training, and are being given a free AI software license.
He concluded by saying that as was done in the first 100 days, the Government will continue to work with the same determination and pace, so that Budget 2027 will be another step towards increasingly stronger enterprises and a quality life for the Maltese and Gozitan people.
For their part, representatives of the Chamber of Small and Medium Enterprises presented the Prime Minister with a document with a number of proposals based on five main pillars, including investment and compliance, governance and fair competition, productivity driven by sound policies, energy and resources, as well as transport and mobility.
They also referred to the decision announced in the open Cabinet with the theme ‘100 Days with Your Health’, in relation to the reduction in the tax on the transfer of businesses between family members, which will be reduced from 5% to 1.5%. The representatives described this decision as a positive one, which will continue to support businesses to continue investing and contributing to the growth of the Maltese economy.
They also thanked the Government for the continuous support given to businesses over the years, including in difficult times such as the pandemic, through measures such as the subsidy on workers’ wages.
At the same time, they stressed that they look forward to continuing to strengthen open dialogue and collaboration with the Government, working together towards the prosperity, economic growth and well-being of the country and its citizens.
Also present for this meeting were Deputy Prime Minister Ian Borg, Ministers Silvio Schembri, Miriam Dalli, Clyde Caruana, Jo Etienne Abela, Chris Bonett, Alison Zerafa Civelli and Keith Azzopardi Tanti, Deputies Rebecca Buttigieg and Ray Abela, as well as the Head of the Secretariat of the Office of the Prime Minister, Mark Mallia.
Photo: OPM
