GRTU: Budget 2011 'double-faced'

“If the government had opted to implement the measures proposed by the GRTU, all sectors represented by the Chamber would have been financially encouraged without being of burden to government’s deficit,” the GRTU said.

The Chamber said the budget was "double-faced", describing the picture given of the economy as "smiling on one hand, and a sour picture on the other hand, due to the measures proposed."

The GRTU said the focus of its own proposals to the government were based on a bank credit guarantee so that small enterprises would be able to invest in innovative projects. "This would not only generate a fresh economic activity but it would in turn create further economy activity to other small businesses.

“The proposals were directed to small and medium-sized business which amount to 97% (26,000) of the Maltese enterprises,” the GRTU said.

However the GRTU added that it agreed with the economic and financial strategy opted for in the Budget.

GRTU praised the finance minister for taking into consideration and using a number of its proposals. It also agreed with proposals to analyse and set up a committee to reduce bureaucracy and excessive spending the public system.

“However, the GRTU has long been saying that the SMEs need factual schemes and money on the table, and not studies and speeches. This Budget is not giving anything to the SMEs which the European Union has not already given,” the GRTU stressed.

“Whilst the government has given aid to the farmers and restaurants and hotel owners, it is punishing others with increases in fuel prices.”