The Malta Chamber of SMEs has welcomed, a first in terms of long-term visibility, announcement related to the wage supplement. In a statement, the business lobby said that it was important that businesses are given a good idea of what to expect during the coming months in relation to the wage subsidy – which was the most important scheme during the Covid period.
“Today’s announcement follows an intense consultation with the Chamber of SMEs and the long-term visibililty of the wage supplement was a key proposal put forward amongst numerous others. Even though the wage supplements are essentially funds, which are passed on to the employees to cover part of the wage cost, this is still extremely important as the business’ most important resource is their employees and businesses are also doing their best not to let go of any employees.
The SME Chamber said that it has been emphasising that business is far from normal and many businesses have not seen any businesses since March last year now. Ending the moratorium period will surely be a death sentence for these businesses, it added.
The body also noted that businesses however do not want to and cannot continue relying on government support alone. “It is therefore positive that complimentary measures are to be announced shortly to help businesses with their economic activity. All efforts must be put in place in order to drive numbers down and bring economic stability”, the statement concluded.
