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...
Last Friday Minister Edward Scicluna presented economic figures, projections and Government’s vision to the MCESD members.
The Minister said that the Budget is not a simple accounting exercise but it sets out the direction Government is aiming at. As such the pre-budget document is entitled ‘delivering our vision’.
The Minister said that competitiveness is one of the only parameter on which we have control and maintaining the competitiveness of our enterprises and higher level of productivity is key. This is something the Budget will be addressing.
In addition, the investment priorities of the Government were outlined:
Reforming institutions, employability through education, green economy, energy, health, Gozo and social inclusion.
GRTU CEO Abigail Psaila Mamo acknowledged the positive figures and economic projections outlined in the document however she stated that as usual one will have to see what measures these will translate into in the Budget itself. The CEO also said that once again the problem of bureaucracy and malfunctions of the public administration was on the Budget agenda. So far we have not been successful in making changes that matter in this area, this is something we and our members battle with on a daily basis and it is the main reason our country ranks so poorly. The Government had even appointed a Commissioner to tackle bureaucracy and simplification however we found that the Commissioner’s powers were limited to sending proposals.
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).