MHRA welcomes Budget 2017 as ‘ensuring shared value’

The Malta Hotels and Restaurants Association has welcomed Budget 2017 as one that focuses on lower income earners and pensioners.

“This is in line with our pre-budget theme of ‘Creating Shared Value’,” the MHRA said, adding that it was pleased with the number of measures that directly support the tourism sector.

These include investment to further support the sustainable growth of the cruise-line business; the commencement of works on the new Institute of Tourism Studies; infrastructural investment including projects related to public parks, various embellishment initiatives and improvement in the road network across a number of localities including Gozo. 

The MHRA also welcomed the tax credit schemes for renovations in hotels and restaurants aimed at the continued improvement of the tourism product. “However MHRA was expecting specific votes for the immediate upkeep of core tourism areas, such as Bugibba and Qawra, which are in urgent need of serious investment,” it said.

An energy efficiency scheme which MHRA proposed for hotels and restaurants will be implemented next year. 

MHRA said it was encouraged by the 2016 deficit estimate which was set to be below one per cent and is expected to further improve next year. MHRA noted that the national debt as a percentage of the GDP is on the decrease and getting closer to the 60 per cent allowed by Euro zone targets. 

“MHRA will be reviewing the budget estimates for next year in further detail and accordingly will be presenting a more detailed analysis,” it said.