Updated 1911
Prime Minister Robert Abela is addressing a press conference. He said that had the country went into complete lockdown, the economy would have completely stalled. Rather, today, “we are here to launch a regeneration plan”.
“This is a budget that incentives work. The future will be better”.
He added that “we have registered a complete success from a health perspective, but at the same time our businesses have survived”.
Abela said that this plan is based on three pillars.
- Reduction in the expenses base for business.
- Incentives for consumption
- Support for families
PM said that the wage supplement will be extended until September for those industries which are fully-dependent on tourism. Other businesses which are still bearing the brunt of the restrictions will continue to receive 600 euro under Annex A. Other businesses in Annex A will be shifted to Annex B.
Businesses will be able to apply for a grant of up to 2,500 to cover rental expenses for July, August and September. This will cost Government up to 50 million euro.
For the summer months of July, August and September, government will be paying 50% of commercial utility bills, capped at €1,500 per applicant. This will place a cost of €30 million on the exchequer.
In a bid to encourage locals to spend money at local outlets, all persons over the age of 16 will be given €100 in five vouchers of €20. Of these, €80 are redeemable in bars and restaurants and €20 in retail excluding supermarkets. The vouchers need to be used by September, a cash injection of 34 million euro.
Finance Minister Edward Scicluna recalled that Government had already sought Parliamentary approval to be able to take out up to 2 billion euro in loans. He estimated a 7% deficit for 2020.
He announced that Government will be underwriting bonds that cannot be rolled-over in the current circumstances.
Economy Minister Silvio Schembri said that Government wants to encourage the Maltese public, who this year will likely be travelling less, to spend money in Malta in order to encourage domestic consumption.
He said that Government will be improving the country’s infrastructure through an investment of 400 million euro. This will also include projects such as the extension of the Life Sciences Park, upgrading of the Kordin Business Incubation Centre, a logistics hub costing 110m euro hub, and an investment of 51 million in a new industrial park in Marsa. These projects will be managed by Malta Industrial Parks.
Updated 1236 – Malta registers its 630th case
In its daily bulletin, which is now being provided only through social media platforms, the Health Ministry said that there was one new case yesterday. As typically happens on Sundays, the number of swab tests was lowest for the whole week, at just above 507.
This is the 630th case to be registered in Malta since the first case identified on 7th March 2020.
Updated 1050 – A Better Tomorrow – PM Abela
Writing on Facebook, Prime Minister Robert Abela revealed the theme for this evening’s budget “Għada Aħjar” (A Better Tomorrow). He said that tonight Government will be providing support to families and businesses to push forward Malta’s economic recovery.
Malta’s return to normality edged closer this weekend with traditional hotspots, promenades and beaches around the island appearing to be brimming with people and customers gradually returned to restaurants and cafeterias.
This activity however will certainly not be enough to compensate for three months of lull, coupled with the fact that Malta’s airport ill remain closed for another three weeks, and on its re-opening, will only accept visitors from limited destinations. It is in this context that Government is expected to announce a number of initiatives to support business and employment this evening.
Prime Minister Robert Abela hinted yesterday that this plan will be “the largest economic stimulus plan ever seen by this country”. This package, insisted the PM, will strengthen and incentivise Maltese and Gozitan businesses. “It will stimulate consumption and employment”.
Among the incentives, Abela hinted that there will be incentives to encourage people to dine out and spend weekend breaks in Maltese and Gozitan hotels. Government is also intent at rewarding businesses that had invested further during these challenging times.
Covid-19 Updates
There were two new cases registered in Malta, following 905 swab tests carried in the previous 24 hours. No new recovery cases were registered. The total number of active cases now is 24.
News Paper Review
The Independent quotes Prime Minister Robert Abela who said that a decision to disembark 400 migrants held on four tourist boats was taken after the situation aboard escalated and was spiralling out of control.
L-Orizzont follows an interview with the Prime Minister who said that crew members of the Captain Morgan Europa II boat called for help after migrants entered the vessel kitchen and threatened to explode a gas cylinder.
In-Nazzjon quotes PN Leader Adrian Delia warned against turning immigration into political football and said that the opposition is prepared to hold a unified front with the government to make Malta’s case to the EU.
The Times speaks to family lawyers who reported an increase in requests for legal advice on separation over the lockdown months. Professionals said that the experience for some married couples was like ‘forced cohabitation’.
The Independent speaks to real estate agents who welcomed the launch of a home deposit scheme aimed at first-time buyers but argued that the limit of property prices should be raised to €200,000 from the current €175,000.
L-Orizzont quotes University of Malta lecturer George Vidal Zammit who recommended the creation of a forum between all stakeholders interested in the issue of migration to develop a national policy for this area.
The Times says that the economic measures to be announced today are expected to introduce a feel-good factor to stimulate buying. Sources close to the government said that incentives may include compensation for foodservice and accommodation consumption.
In-Nazzjon says that the pilots’ association obtained a temporary court injunction to block the 69 layoffs by Air Malta until the hearing on June 15. In a statement, the union said that the airline is exploiting the Covid-19 situation to withdraw from its obligations.
L-Orizzont speaks with Aman Tekeste who lives in the United States after arriving in Malta as an immigrant. The Eritrean described the anti-racism protests sweeping the country as ‘a terrible time’.
CDE News
