Updated 2130 – Budget 2023 announced
Budget 2023 sees pensioners get a higher cost-of-living increase, at €12.50, with the rest of the population getting €9.90. “The vulnerable in our society are the ones at risk with the impact of the cost-of-living,” Caruana said in his budget speech. With an expenditure estimated at between €10 million and €11 million, around 37,000 families, accounting for 80,000 people, will receive on average a cheque of €300. Finance Minister Clyde Caruana said this benefit will start being paid from this year and families will be receiving their cheque just before Christmas.
The budget shows that the deficit is set to reach 5.8% of the GDP this year, 0.2 percentage points above what it had projected last year Malta’s deficit is expected to increase from €955 million this year to €980 million next year, according to the 2023 Budget announced by Caruana. Debt levels are expected to increase by another billion euro next year.
See reports on Times of Malta, Maltatoday and the Malta Independent.
Updated 1630
Newsbook leads with tragic news once again from Malta’s roads. A man lost his life after he was hit by a car in Triq Dicembru 13, Marsa. The car, a Mercedes, was being driven by a 66-year-old man from Fgura.
Times of Malta reports that San Andrea School principal Stefania Bartolo has suspended herself from her role after the school launched an independent inquiry into allegations of mismanagement of millions of euros.
Maltatoday says that Albert Buttigieg, the St Julian’s mayor has announced he will be contesting the election for Robert Arrigo’s vacant seat, in what is being seen as a snub to party leadership, which appeared to be seeking to co-opt deputy leader Alex Perici Calascione.
Updated 1100
PM promises certainty and stability in today’s Budget
PM Robert Abela has revealed that the theme for this evening’s Budget address will be “Malta, Certainty and Stability”
In a tweet, Abela said that Budget 2023 is one with a vision for a sustainable future which addresses today’s realities
Malta: Food prices drive inflation above 7.5%
In September 2022, the annual rate of inflation as measured by the RPI was 7.52 per cent, up from the 6.98 per cent in August 2022, the NSO said today. The 12-month moving average rate for September stood at 4.93 per cent. As per last months, the largest upward impact on annual inflation was measured in the Food Index (+2.54 percentage points). Within the food sector, inflation was driven upwards largely due to higher prices of take-aways
Malta-Gozo tunnel reportedly shelved – reports
Government has reportedly shelved the plans to connected Malta and Gozo through a below-the-sea tunnel. According to a story revealed by Maltatoday, that the billion-euro tunnel project would not be taking place in the foreseeable future. “Beyond the talks held by a committee appointed to oversee the studies and tenders on the project, there is absolutely no commitment on the project – COVID-19 and the war in Ukraine have only helped seal further the fate of the tunnel,” the source told MaltaToday.
Morning Briefing
Budget 2023 to be unveiled this evening
The Minister of Finance and Employment Clyde Caruana will be presenting the first budget of this legislature this evening. Prime Minister Robert Abela said that this Budget will show how the government has the public’s best interest at heart. “You will see how we will continue to lead our country in the direction it deserves”, Abela said. On his part, Opposition Leader Bernard Grech said that government should outline how it will cut spending, help people in need, and improve quality of life, while calling for a social economic plan. “The government is only after short-term gain for its own people. I hope that tomorrow, we truly hear about efforts to improve people’s quality of life,” Grech said. One of the highest cost-of-living allowances, close to ten euro, is expected to be announced today.
Government commits to timely delivery of Msida Creek project
Infrastructure Minister Aaron Farrugia insisted that the Msida Creek project will be delivered on budget and on time, after a redesign of the controversial project was revealed to the public While the plan originally consisted of two flyovers and large steel pedestrian crossings, it was revealed that Infrastructure Malta was now opting for one flyover, a large piazza and a 300-metre canal envisioned to further address the flooding issue in the area. “I am going to insist that we stick to this as much as possible and that we invest in the professional hoarding required to move on with this project with as little disruption as possible”, Farrugia said on the 18 million euro project. (Maltatoday)
EC approves higher support for fast ferry operators
The European Commission has approved a two-year contract worth €12 million that will aid the operators of the fast ferry between Malta and Gozo sustain their services. The reports, which were first revealed by Church media house Newsbook, said that the contract will be signed in the coming weeks, allowing for the setting up of a schedule similar to that during the summer months, meaning that there will be 24 trips every day.
