Mental health support for teachers included in new education strategy
The proposed National Education Strategy outlines provisions for mental health support for teachers, increased emphasis on physical activity for students during school hours, and a drive to engage parents more actively in school affairs. Released by the Education Ministry on Tuesday, the consultation document centers around three core pillars: wellbeing, growth and empowerment, and equity and inclusion. Minister Clifton Grima said that the strategy, developed through a collaborative effort involving students, families, teachers, and various organisations, was crafted from the ground up through a series of 200 meetings. It also proposes the creation of a Trade Institute for postsecondary students, for careers in the traditional and modern trades. (Times of Malta)
BOV sells package of non-performing loans
Bank of Valletta has finalised an agreement to offload a portfolio of non-performing loans, fetching a sum of €26 million. The announcement of this agreement was made public on Tuesday. While refraining from disclosing the identity, the bank revealed that the loans have been acquired by a Maltese public limited liability company operating as a securitisation cell company. This particular company was chosen following the bank’s reception of a formal offer as part of a bidding process. The portfolio comprises 707 non-performing loans associated with 245 borrowers. Predominantly, these loans were extended for commercial purposes, aiding diverse industries in their business activities. (Maltatoday)
Government owed 6.6 billion euro in taxes – 84% deemed uncollectable
The government holds a tax receivable of 6.6 billion euros, primarily comprising income tax and VAT. Among these dues, 5.6 billion euros remain uncollectible due to diverse reasons, such as the passing away of tax debtors or the bankruptcy of businesses. This translates to 84% of the owed taxes to the government being categorised as uncollectable, leaving the remaining 16%—equivalent to one billion euros—feasible for collection. In the year 2022, the total sum of unpaid taxes, irrespective of the cause, amounted to nearly one third of the Gross Domestic Product, which stood at approximately 17.2 billion euros. These findings were revealed in a report conducted by the Auditor-General’s Office, presented to the House Speaker, following an audit of public accounts in several public entities. (TVM)
