Another € 70 million in people’s pockets
“It simply came to our notice then. To make decisions when necessary ”. This was stated by Prime Minister Robert Abela during a press conference during which he announced the issuance of the Tax Refund Check and Additional Check to continue to give that important impetus at a time when the country must continue to grow economically. .
Prime Minister Robert Abela explained that in the last budget, which was approved yesterday, an increase in the Tax Refund Check had been announced. He argued that this increase is not only rewarding the zeal of the people, but is also an injection into the economy designed to continue to generate economic activity. The maximum tax refund will be € 140 while the minimum will be € 60. “Complementing this check will be an additional check that can be used for products and services in all sectors. This will generate more activity in every sector at a time when the economy is growing and when the country will continue to open up and return to normal, “reiterated Prime Minister Abela.
The Additional Check will see pensioners and people on social benefits receive € 200, while workers and students will receive € 100. Thus, the Prime Minister explained, families where both work and earn the minimum wage, they will receive € 280 from the tax refund and € 200 from the stimulus check – a total of € 480. Two pensioners receive € 400.
He mentioned the challenges posed by the pandemic, including rising international commodity prices. He recalled that to date the government has continued to intervene directly to keep energy, gas and fuel tariffs low. If it were not for these government interventions, a Maltese family would end up spending € 500 more a year. It is due to the fact that the pandemic is affecting the prices of essential services and products that the government will be back with the families, said the Prime Minister. “And just as we were there for businesses in difficult times, so will we be with families, because this government is the shield against the pandemic.” The Prime Minister concluded by saying that next spring and summer will be good times for our country because these people have always overcome the challenges.
Minister of Finance and Labor Clyde Caruana said that the prudence in the management of the finances of our country is allowing the government to be in a position to give all this help.
The Minister explained how in the budget speech, the government was forecasting to close the year 2021 with a deficit of 11.1%. The economic performance of our country has led the deficit to fall by 3% to 8.1%. In addition, the government has already welcomed the impact of energy and fuel prices, an impact that amounts to 1.5% of Gross Domestic Product. Thus, the government is forecasting to close the year 2021 with a deficit of about 9.5%.
This margin gave the government enough room to meet the challenges it was predicting coming to our country. Therefore, this additional check, in addition to the tax refund, will go to help families in the face of these challenges.
Photo: OPM0.
