.jpg)
[LIVE] Budget 2015 live blog
Follow us live for Budget 2015 as presented by Labour finance minister Edward Scicluna • This live-blog refreshes automatically
17 November 2014, 5:51pm
Miriam Dalli
Miriam Dalli
.png)
Finance Minister Edward Scicluna presenting the Budget to parliament.
Finance Minister Edward Scicluna and Speaker of the House Anglu Farrugia
.png)
Finance Minister Edward Scicluna
Miriam Dalli joined MaltaToday.com.mt in 2010 becoming assistant editor f...
Among a number of reforms are a review of the Press Laws and the decriminalisation of drugs. A review of the press laws should guarantee freedom of expression. On the drugs reform, Scicluna says the government wants to help drug addicts while harshening the fights against drug lords. An Asset Management Bureau will be set up to effectively implement asset confiscation.
Scicluna reiterates the government is committed to increasing accessibility to Gozo by having an air link. Relative studies are ongoing for the development of a rural/green airfield in Gozo.
On a fixed permanent link, Scicluna says, the Chinese government has finalised the feasibility study on the possibility of a tunnel connecting Gozo to Malta. A feasibility study on the construction of a bridge is still ongoing. Once this study is finalised, both studies will be published. Further environmental studies will however be required.
Following the request for proposals for a cruise liner terminal, the government will now carry in-depth studies on whether the project can actually be implemented based on the plans and technical studies as submitted by the consortium.
To encourage the creation of more jobs in Gozo, the government will partially refund NI paid by tourism operators when employing full-time or part-time workers. Because of seasonal issues, the government will give operators €30 a day for every worker they train in the sector. The training, mostly aimed at students, would be twice a week and carried out during the low season.
An application will be lodged so the rehabilitation process of the old waste plant in Wied il-Fulja is rehabilitated.
A pilot project will be launched for the introduction of a third bag for organic waste. During 2015, parliament is expected to approve a law on climate change. €11 million will be allocated for the Kappara flyover, €3 million of which will be allocated for the rebuilding of several ulterior roads.
The AFM rapid launch facility in Xatt it-Tiben Floriana, and the restoration of the Argotti Gardens are expected to start in 2015.
The Valletta Ditch will be used for parking facilities and as a public garden, while more bicycle racks will be installed around Valletta. Scicluna also announced that a ‘Master Plan’ is also being prepared to build government offices at Belt is-Sebh.
A comprehensive plan is currently being carried out to regenerate Strait Street in Valletta.
On the land reclamation project, Scicluna says the government took note of several offers and is currently identifying a number of areas which can be given priority.
A public private partnership will be implemented at the Cospicua health centre. A study is currently being carried out to assess the possibility of a breakwater in Marsaxlokk.
An app will be developed to help people in car pooling and knowing who’s heading to the same location. Those making use of car pooling will be allowed to drive through bus lanes.
The government is also drafting a master plan for St Luke’s Hospital. An expression of interest will be issued to rehabilitate the area and focus on services related to health.
“Others told us that it would be impossible to carry out the reductions in utility tariffs, but we did it.”
The Chinese state-owned company Shanghai Electric Power will inject €320 million in Enemalta in exchange for a 33% minority stake in the corporation. The investment will enable Enemalta the conversion of the BWSC plant to LNG.
“This is just the beginning and there will be further investment through the setting up of a joint venture and Energy Service Centre. There is also an agreement with Shanghai Electric so that the electricity produced in Malta is export to plants in Europe, Middle East and Africa.”
Scicluna says the government is intent on utilising the European funds to open a new fish market and carry studies for the construction of a breakwater in Marsaxlokk.
Government will issue a white piper proposing the regularisation of real estate agents and property consultants.
It is eyeing the construction of a breakwater between Valletta and Sliema, a project that should be carried out through a PPP.
Scicluna says the Maltese film industry is set to register a 500% increase following various incentives be the government and the Film Commission is set to embark on an international advertising campaign to attract further productions to Malta. The government is set to issue an international call for strategic partners to develop the Mediterranean Film Studios in Rinella.
On the gaming industry in Malta, Scicluna says the Lotteries and Gaming Authority is set to become the Malta Gaming Authority, while a Gaming Academy and Gaming Malta – to promote the sector – will also be set up.
Scicluna says Comino “can no longer remain anarchy” and the reorganisation of the little island’s beaches will continue to be implemented.
A separate programme will be implemented to encourage cruise liners to remain berthed during the night by allowing them to open their casinos against a special licence. The casinos will be available for passengers only. Those berthing in Gozo will not require to pay a fee.
The government will introduce a number of systems enabling tourists to benefit of VAT refunds before departing Malta.
Scicluna says that in light of the current traffic problems, the government, in an effort to improve the situation, will embark on a consultation process on a white paper on possible changes to schools’ opening hours.
Students in Year 4 will receive a tabled each during the next scholastic year. A 5% VAT rate, instead of 18%, will be applied to e-books and books published on CDs, DVDs, SD-cards and USB drives.
To encourage employers to employ persons with disability, the government will be offering “generous” tax credits.
The same measure applies to unemployed single parents up to 23 years of age. Single parents can benefit from free childcare services. “Becoming a single mother is not a profession. Support should be given to those who deserve it,” Scicluna says, adding that justice should be done with “genuine single mothers” while curtailing abuse.
The measure will cost €2 million.
The tax band will be adjusted once again to ensure that those on minimum wage are not taxed.
A final withholding tax of 8% on the value of transferred property will be implemented.
A tax exemption measure introduced last year to first-time buyers will be retained during the first six months of 2015.“However, the price of petrol and diesel will still go down thank to better prices negotiated by Enemed. The price of unleaded petrol will be of €1.42 per litre while the price of diesel will be of €1.35.”
A 20c per litre excise duty on wine will also be implemented.
The government’s revenues are expected to stand at €3.55 billion while expenditure is set to be of around €3.7 billion: “The economy is growing and deficit is going down.”
Among others, Scicluna is expected to announce a new project for Malta’s south.
“Budget 2015 is about rewarding hard work and therefore making work pay. We want to harp on the message that social benefits should not become a dependency.”
The government’s goals are for Malta to attain one of the highest economic growth rates across Europe; increase quality jobs; reduce burdens for both households and businesses; encourage work; create a business friendly environment and encourage public private partnerships.
Finance Minister Edward Scicluna, having finished his briefing with journalists at the Finance Ministry, will present next year’s budget at 6.30pm.