Prime Minister Robert Abela stated that the 2027 Budget would mark another important step in translating Malta’s long-term vision into increased opportunities for businesses and a better quality of life.
The Office of the Prime Minister said in a statement on Wednesday that the government will present a Budget that continues to provide clear direction, courage, and confidence, while strengthening the sense of positivity and continuing to support an economy that is achieving positive results.
The Prime Minister, during a consultative meeting with representatives of the Chamber of Small and Medium-Sized Enterprises (SMEs), noted that discussions are currently underway regarding two key areas: the national budget for the coming year and the European Union’s Multiannual Financial Framework for the 2028-2034 period.
He stated that, despite international geopolitical challenges and rising energy prices abroad, the government will continue to provide necessary support in strategic sectors – such as energy – to ensure stable prices for families and businesses.
Abela emphasised that small and medium-sized enterprises are not only the backbone of the European Single Market but also a key pillar of the Maltese economy. Therefore, despite the turbulent international and geopolitical situation, the government will present a Budget that continues to provide clear direction, courage, and confidence, while reinforcing a sense of positivity and sustaining an economy that is achieving positive results.
He emphasised that an increasingly strong and competitive economy requires long-term planning – looking beyond today’s immediate needs – as well as decisions that strengthen sustainability and create the necessary incentives for sustainable growth. He maintained that just as this government provided essential support during difficult times, including the pandemic, it will continue to do so with even greater resolve in the future.
Abela highlighted the digital transition as pivotal for enterprises to continue growing and becoming increasingly innovative. He referred to various initiatives and schemes designed to encourage investment in digitalisation, automation, artificial intelligence, and research and development. He explained that these aim to help businesses boost productivity and strengthen their competitiveness, not only locally but also beyond our shores. He added that investment in technology must go hand in hand with investment in the workforce.
In fact, Abela noted that, to date, around 40,000 people have registered for the ‘AI for All’ initiative, while 23,000 have already successfully completed the training and are being provided with free AI software licenses.
He concluded by stating that, just as it did during the first 100 days, the government will continue to work with the same determination and pace to ensure that Budget 2027 marks another step towards increasingly robust enterprises and a high quality of life for the people of Malta and Gozo.
Representatives of the Chamber of SMEs presented the Prime Minister with a document containing a number of proposals based on five key pillars: investment and compliance; governance and fair competition; productivity driven by sound policies; energy and resources; and transport and mobility. They also referred to the decision announced during the ‘100 Days with You’ open Cabinet meeting regarding the reduction of tax on business transfers between family members, which will decrease from 5% to 1.5%. The representatives described this as a positive decision that will continue to support businesses in investing further and contributing to the growth of the Maltese economy.
