“Although this year has been marked by a global crisis challenge, where much of the Government’s work has been unexpectedly focused on the pandemic, this Government has still fulfilled 65% of what it promised in the budget. for the year 2020. ” This was stressed by the Minister for Finance and Financial Services Edward Scicluna, during the launch of the publication ‘The Implementation of the 2020 Budget’.
This document, which has been launched for the seventh consecutive year, gives an account of the Government’s work in carrying out the measures announced in the budget presented in October 2019.
Minister Scicluna recalled that this year, the Government did not have only these Budget 2020 measures to carry out. Last June, due to the COVID-19 pandemic, another extraordinary budget of € 900 million was announced in order to immediately provide assistance to families and businesses. This package of measures was the biggest injection ever made by this Government in the history of our country.
During his speech, Minister Scicluna referred to various measures that were announced during these two budgets. Among these measures, Minister Scicluna mentioned the overtime tax reduction measure. Minister Scicluna explained how for the year 2020, the first 100 hours of overtime per year, for all those whose basic salary does not exceed € 20,000 per year and who do not have a managerial position, began to be taxed at 15%. This measure is expected to cost the Government € 5.3 million.
This was one of the promises of this Government, that the payment of overtime will be taxed at a reduced rate.
Minister Scicluna explained how this was the thinking behind the drawing up of the budgets over the years, through which the Government thought and planned wisely in order to continue to lower the burdens on Maltese and Gozitan families.
For his part, Principal Permanent Secretary Mario Cutajar announced that, “despite the pandemic, 65% of the Budget measures will be implemented in 2020, bringing the total budget measures carried out in over the last seven years it amounts to an impressive figure of 1,606 measures ”.
Mr Cutajar said there were some measures that had to be postponed as the pandemic disrupted the Government’s priorities, but the Public Service will continue to work to see the measures that are in the process stage, if still applicable , will be implemented in the coming months. All this indicates that the Public Service is continuing to strengthen its structures and give them permanence.
He also mentioned how apart from the budgetary measures, this year we had exceptional measures due to the pandemic, which the Public Service, as the administrative hand of the Government, has always implemented in a very short time, so that with so many thousands of Maltese benefited and about 93,000 jobs were saved. It was thanks to this, with unprecedented aid through four packages worth € 2.7 billion, that the Maltese economy will not only not recover, but is projected to grow by 7% next year. the next.
Mr Cutajar noted that when the Budget for 2021 is announced next Monday, another process will be launched which will lead to the presentation of another publication on the measures that have been taken. He emphasized that the budget was not only an economic and fiscal exercise, but also a tool by which we could continue to achieve the United Nations’ sustainable development goals.
The Principal Permanent Secretary said that the publication on the execution of the budget is an account of transparency, accountability and governance in practice. “This is a year of consolidation where we are looking at everything we have done as a Public Service over the last seven years, to change and improve what is good and what is not good. This is because the Public Service must remain at the forefront, always with the public in its needs “, concluded Mr. Cutajar.
