A Budget that extends the safety-net for Businesses, more tax incentives should follow to enable new investments
19 October 2020
Budget 2021 The Malta Chamber of SMEs is pleased to see a number of its...
Reduction of Public Deficit -At 68% of GDP Malta's Public Deficit is too high for an open economy like Malta, Economic imbalances, both internally and externally are worse than for other economies with large internal markets. Government should in Budget 2012 take serious action to reduce the deficit in Public Financing.
GRTU supports all schemes that improve productivity. Productivity is the result of greater and higher quality investment in all sectors, increased labour economic contribution and investment in new technological systems, innovation and better management of resources.
The Maltese economy still suffers from excess capacity and oversupply in various areas. The total result is that important resources like land, human capital and financial resources remain idle or unutilized and thus fail to contribute to GDP Growth.
Government should not in Budget 2012 increase current expenditure not only because of its negative impact on the deficit in Public Finances but also to avoid unnecessary inflationary increases. Government should reduce expenditure on non-productive sectors but heavily increase capital expenditure on capital investments. The Capital Budget as planned for the next 3 years should grow substantially and be used as a tool to further strengthen the infrastructure and the enhancement of Malta's potential as a modern knowledge-based economy.
GRTU expects a smart budget that emphasizes capital investment, better utilization of economic resources, new incentives to encourage and promote the growth of internal economy through greater private sector capital investment incentives and incentives to enlarge mobility of labour towards more productive sectors, reduction of costs for enterprise and the promotion of new financial instruments that encourages the better utilization of financial resources held by the banks and by the private sector.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).