Abela says energy subsidies protect families and businesses amid global pressures

The government will maintain its policy of subsidising energy and fuel prices, Prime Minister Robert Abela has affirmed, arguing that prudent management of public finances kept the measure sustainable while other economies have had to scale back similar support.

Speaking at a business breakfast held as part of the Labour Party Congress, themed "Malta Aqwa," Abela cited the United Kingdom as an example of a country now facing fiscal pressures that have limited its ability to maintain the level of support Malta has sustained.

"Malta is in a strong economic position, with robust public finances and a deficit under control, allowing the government to keep investing in people and businesses and to address new challenges with resilience," he said.

Abela acknowledged growth across several sectors, including maritime, esports, digital gaming, medtech, aviation, and financial services, and praised the role of family businesses and local entrepreneurs. He also highlighted the Intrapria 16 law, which offers young people new routes into the business world through training and support.

The Prime Minister said that within the framework of Malta Vision 2050, the goal of economic policy is not growth for its own sake, but improved well-being. He identified three priorities: a stronger healthcare system, better education, and higher after-tax disposable income for families.

He said measuring prosperity should move beyond traditional economic indicators and include quality of life, with Malta working towards a people-centred economic model.

Deputy Prime Minister Ian Borg, who also spoke at the event, said that global challenges, including conflicts, climate change, artificial intelligence, and competition for resources and talent, also bring opportunities, and that Malta must remain engaged in European decision-making.

Deputy Leader Alex Agius Saliba said the government's success over the past 13 years was built on policies that considered everyone's needs, and stressed the role of social dialogue in reaching sustainable results. Discussions at the event covered topics including digital productivity, work-life balance, labour migration, lifelong learning, and the role of education.