Last Updated on Monday, 8 June, 2020 at 9:18 pm by Andre Camilleri
The GBC notes with satisfaction the initiatives announced today by Government which are targeted towards incentivising the economy. The GBC had already provided its feedback through a policy and strategic document containing a number of measures on specific sectors. It is crucial at this stage to instill the required confidence in the economy.
It is important to highlight that the wage supplement in the tourism sector will be retained in an integral way, and that the wage supplement for Annex B will also be retained. The GBC expects that the positive discrimination contained in Annex B for Gozitan based enterprises, should continue as is.
The GBC believes that the voucher system will also assist the domestic tourism sector in Gozo, which at this stage is crucial, given Gozo’s strong dependency on tourism.
The assistance to be provided on rents and electricity bills will also give a much needed breathing space to a lot of businesses. Rents was one of the main concerns of businesses which have seen their earnings drop substantially during this period. The wavering of license fees should also provide a much needed assistance to businesses at this point in time.
Overall it is a strong budget which should incentivise the economy to continue moving forward during these difficult times, and which should put the nation in a good position to restart the economy gradually.
The GBC notes the large infrastructural projects and initiatives that were announced for the island of Malta. The GBC believes that there should also be important infrastructural projects in Gozo which should also assist in providing and upgrading Gozo’s industrial space to really meet the needs of new industries, and attracting new industries to Gozo.
As reiterated in the past the GBC believes that a specific strategy for Gozo should also be in place with a special focus on the digital and green economy sectors. The Government should consider specific investment packages in these sectors in order to diversify the Gozitan economy.