Budget with a strong commitment to families and future generations
The General Workers’ Union (GWU) has expressed its approval of the recently announced budget, highlighting its focus on economic growth for a more secure future for families. The union described this budget as both economically and socially sustainable.
GWU Secretary General Josef Bugeja stated, “This budget comprises a range of proposals that leverage our country’s lowest unemployment rate to enhance the quality of life for citizens. It aims to create greater wealth for families, pensioners, youths, business owners, and future generations.”
Highlighted measures proposed by the GWU and included in the budget are continued subsidies for energy, fuel, and cereal prices, benefits for digital research, innovation and artificial intelligence. Additionally, the budget includes increases in contributory and non-contributory pensions and social benefits, investments in businesses and enterprises, and initiatives designed to further support family incomes and assist vulnerable groups.
“This budget offers more support to families by implementing a significant tax cut for parents with children, reducing their burden by €160 million. It also includes an increase in the Children’s Allowance, in-work benefits, and a rise in the birth bonus, among other measures,” added Bugeja.
He further emphasized, “We are pleased to see substantial investments in families, pensioners, workers, and initiatives addressing the demographic challenge.”
The GWU also welcomed the new mechanism introduced by the government, which, through the Micro Invest scheme, will assist the private sector to enhance workers’ wages. This initiative is expected not only to improve wages but also to support workers in continuing their training and skill development in the workplace.
It is important to note that, despite the aid and incentives, the deficit rate is projected to continue declining while the economy is expected to grow. These benefits are made possible by economic growth without any increase in taxes.
“Through this budget and its forward-looking vision, the government is providing support to families and the most vulnerable groups in society through a substantial increase in social benefits, while also addressing the needs of the private sector and enterprises willing to invest,” concluded Josef Bugeja.
This statement reflects the initial reaction from the GWU. An official response from the National Council will be issued in the coming days.
The General Workers’ Union (GWU) has expressed its approval of the recently announced budget, highlighting its focus on economic growth for a more secure future for families. The union described this budget as both economically and socially sustainable.
GWU Secretary General Josef Bugeja stated, “This budget comprises a range of proposals that leverage our country’s lowest unemployment rate to enhance the quality of life for citizens. It aims to create greater wealth for families, pensioners, youths, business owners, and future generations.”
Highlighted measures proposed by the GWU and included in the budget are continued subsidies for energy, fuel, and cereal prices, benefits for digital research, innovation and artificial intelligence. Additionally, the budget includes increases in contributory and non-contributory pensions and social benefits, investments in businesses and enterprises, and initiatives designed to further support family incomes and assist vulnerable groups.
“This budget offers more support to families by implementing a significant tax cut for parents with children, reducing their burden by €160 million. It also includes an increase in the Children’s Allowance, in-work benefits, and a rise in the birth bonus, among other measures,” added Bugeja.
He further emphasized, “We are pleased to see substantial investments in families, pensioners, workers, and initiatives addressing the demographic challenge.”
The GWU also welcomed the new mechanism introduced by the government, which, through the Micro Invest scheme, will assist the private sector to enhance workers’ wages. This initiative is expected not only to improve wages but also to support workers in continuing their training and skill development in the workplace.
It is important to note that, despite the aid and incentives, the deficit rate is projected to continue declining while the economy is expected to grow. These benefits are made possible by economic growth without any increase in taxes.
“Through this budget and its forward-looking vision, the government is providing support to families and the most vulnerable groups in society through a substantial increase in social benefits, while also addressing the needs of the private sector and enterprises willing to invest,” concluded Josef Bugeja.
This statement reflects the initial reaction from the GWU. An official response from the National Council will be issued in the coming days.
