Updated 1200
Electric vehicle subsidies not guaranteed next year
The Association of Car Importers Malta (ACIM) has received no assurances that the electric vehicle (EV) grants scheme will continue in 2025, according to its secretary general, Deborah Schembri. Although subsidies for EVs registered until the end of 2024 are guaranteed, there is uncertainty about future incentives. Finance Minister Clyde Caruana confirmed that EU funds for the scheme have been exhausted, with the government funding it through national resources for the rest of 2024. Schembri emphasized the need to maintain similar incentives and suggested that hybrids should also be supported. EV subsidies, increased to €12,000 in 2022, have boosted EV uptake, but electric vehicles still account for just 3.4% of Malta’s total vehicle stock.
MDA proposes minimum wage rise and universal 15% corporate tax rate
The Malta Developers Association (MDA) has proposed raising the tax-free minimum wage to €1,100 per month and introducing a 15% universal corporate tax rate in its budget recommendations. The MDA suggests that gradually increasing corporate taxes for foreign companies and reducing them for local ones would allow businesses to reinvest in their employees. It also advocates lowering taxes on long-let rentals and introducing schemes to incentivize both upsizing and downsizing property transactions. Additionally, the MDA proposes extending incentives for property restoration beyond Urban Conservation Areas and updating first- and second-time buyer schemes to reflect current property prices. It also recommends tax breaks for those who do not park their cars on the streets, including reductions in garage transfer and rental taxes.
Mrieħel business centre and MFSA offices evacuated after fire in server room
A small fire broke out in a server room at the Fort Business Centre in Mrieħel on Monday morning, prompting the evacuation of the business centre and nearby Malta Financial Services Authority (MFSA) offices. Staff were evacuated around 9am, and fire crews quickly responded. The fire was extinguished by 9:45am, and staff began returning to the building. No injuries were reported. Although nearby businesses in the Quad complex were unaffected, MFSA staff were evacuated as a precaution. The company responsible for the server room fire remains unidentified. This incident followed another fire earlier that morning, when a car caught fire on the Marsa-Ħamrun bypass, causing heavy traffic.
Morning Briefing
No snap election, but biggest tax cut in history – PM
Prime Minister Robert Abela has dismissed speculation about a snap election, affirming that Labour’s commitment to cutting income tax for the middle class is part of the party’s ongoing budgetary plans. Speaking at the close of the Labour Party’s general conference on Sunday, Abela promised that the upcoming budget, the third of this legislature, “will surpass the previous two.” “There is no election coming, I can assure you,” he stated. Abela has vowed to introduce the “biggest tax cut in history” in the October 2025 budget, with wider tax bands set to benefit the middle class. This pledge fuelled rumours in political circles of a potential early election, just over halfway through Labour’s term. (Times of Malta)
PN to go ahead with Independence festivities
Nationalist Party leader Bernard Grech announced that the party will proceed with its plans to celebrate Malta’s 60th anniversary of independence from British rule. Grech explained that the decision was made “because that’s what Karl [Gouder] would have wanted,” and it was also requested by his family. Speaking on NET FM on Sunday morning, Grech said that, with the anniversary approaching, the party chose to continue with all scheduled events and political activities in the coming days for two key reasons: to honour Karl Gouder’s memory and to work in his name.
The theme for this year’s independence celebrations is Moving Forward. (The Malta Independent)
Labour elects two Deputy Leaders, new President
Ian Borg and Alex Agius Saliba were elected as Labour’s new deputy leaders. The former took the post of deputy leader for parliamentary affairs, obtaining 95.8% of delegates’ votes in the party’s internal election. A similar result – 92.3% – was obtained by MEP Alex Agius Saliba, who will take up the position of deputy leader for party affairs. Both men were uncontested. On the other hand, the vote for the Presidency of the party was a close battle, as Alex Sciberras edged former TVM News anchor Norma Saliba, by the slimmest of margins – just 14 votes. (Maltatoday)
