Minister for Transport, Infrastructure and Capital Projects Ian Borg and Parliamentary Secretary for Lands and Construction Chris Agius addressed a press conference, in which Budget measures organising their work within their respective remits for the coming months were discussed.
Minister Ian Borg said, “Once again, we have a budget underpinned on a social foundation, designed with incredible detail and which leads to a regenerative economy that distributes and gives back to its people. We presented a budget which embraces our families, our elderly, our students and our children, but also keeping in mind businesses and industries which collectively contribute to a better state. It is crystal-clear that within the sectors of transport, infrastructure and capital projects lies a harmonious system which continuously leads to more growth, investments and sustainability. We will continue to invest in a healthy, but above all a qualitative, infrastructure; one which also gives breath and opportunity to the alternative methods that we are proposing. We are committed to continue investing in our harbours and strengthening our maritime sector, whilst also focusing our attention on the aviation sector. The Malta National Park will be given to the Maltese and Gozitan people for their well-deserved enjoyment. Our commitment to you will be ever present and together, in good health, we will move forward.”
Parliamentary Secretary Chris Agius said that the extension of present schemes regarding the buying and selling of property will further aid Maltese and Gozitan people to become owners of their homes. He mentioned the first-time buyer scheme and noted that the present sum has now gone up to €200,000 whilst also referring to the stamp duty which will be reduced from 5% to 1.5% on the first €400,000, a scheme which was previously announced as part of the Regeneration Plan. Another measure is the tax reduction on property given from parents to their children on sums up to €250,000, instead of €200,000. Parliamentary Secretary Agius stressed the importance of establishing an entity serving as the Building and Construction Authority, which will, in the long run, serve as an effective regulator for the construction sector. He also praised the introduction of the Compensation Fund. He expressed this commitment to continue his work and to keep the citizen as his main priority.
Amongst the various schemes which fall under the Ministry, the Maltese government proposed an extension of benefits with regards to free public transport, specifically to the elderly aged 70 years and more, a scheme which will benefit about 19,000 people. Measures regarding alternative transport, such as electric vehicles and pedelecs, have now, in terms of total investment, peaked to €4.5 million along with other measures which push for the use of motorcycles. The government will also be investing in electric vehicle charging infrastructure and in five Eco-Intermodal Hubs, which will be drivers to a smoother leap towards multimodality with informative systems. Studies and research in favour of an improved public transport system and growth of the maritime and aviation sectors will continue.
With regards to the infrastructure sector, a number of projects concerning arterial, residential and rural roads will continue in their development, whilst new ones will commence. In the meantime, facilities for walking and cycling will continue being introduced. Such an example is the launch of the Safe Cycle Routes project. The continuous work on maritime and harbour infrastructure will proceed while works on the preparations for the Ship to Shore, Grand Harbour Clean Air Project and the permanent connection between Malta and Gozo will progress. The government will also be investing in greener urban areas and green walls.
A greener infrastructure will be intensified with works such as the Malta National Park and also with the continuation of projects of renovation and regeneration by GHRC. Worth mentioning are the parking projects in Għadira and Birżebbuġa, and also the project concerning the creation of 600 social housing apartments.
With respect to the property sector, schemes for First and Second Time Buyers, Vacant Property in Urban Conservation Areas, and Property in Gozo, will be extended. All of this, apart from an increase in the maximum value exempt from stamp duty for First Time Buyers, the reduced rate for buyers of an already vacant property or given to them through inheritance and also other measures which were part of the Economic Regeneration Plan of this sector.
The Maltese government is presently committed to continue working and making the necessary changes for the common good in terms of the building and construction sector, setting up of the Building and Construction Authority, the Introduction of the Compensation Fund and the regulation of the property agents sector.
