28

Oct

Malta cuts taxes for parents in bid to revive native birth rate

Malta announced tax cuts for parents of two or more children on Monday, in a government bid to counter its demographic decline. Finance Minister Clyde Caruana told parliament that the…

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17

Jul

European Commission proposes EU budget of €1.816 trillion

The European Commission has proposed a central EU budget of €1.816 trillion for the seven-year period from 2028 after days of fraught internal negotiations. That figure would represent an increase…

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31

Oct

Key measures in UK Labour Party’s first budget in nearly 15 years

British finance minister Rachel Reeves presented her first budget statement to parliament on Wednesday, unveiling the biggest tax rises since 1993 and changes to the government's fiscal rules to increase…

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31

Oct

UK Chancellor Rachel Reeves raises taxes by most since 1993 in first Labour budget

Britain's new finance minister Rachel Reeves announced the biggest tax increases in three decades in her first budget on Wednesday, saying she had to repair the country's broken public services…

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19

Oct

The UK’s budget – it’s all about the ‘working people’

Speculation is swirling about what new British finance minister Rachel Reeves might announce in her first tax and spending plan this month, but one thing she seems certain to say…

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21

Jun

EU Budget 2025 aims to reinforce funding for Europe’s priorities

The Commission has proposed an annual EU budget just short of €20 billion for 2025. The budget will be complemented by an estimated €72 billion of disbursements under NextGenerationEU. This…

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28

Nov

German government unveils budget fixes as way out of crisis

Germany's ruling coalition unveiled a supplementary budget on Monday that will temporarily lift a self-imposed cap on borrowing after a constitutional court ruling tore up the government's spending plans. The…

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10

Oct

Italy battles for flexible EU budget rules as bond spreads widen

Italy is lobbying its European Union partners with increasing urgency to approve more flexible budget rules, according to government sources, as bond spreads widen and Rome fears that deviations from its…

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28

Sep

Malta News Briefing – Thursday 28 September 2023

Morning Briefing Media group calls on Parliament to act on media billsParliament has been asked to establish a select committee tasked with listening to input from the public concerning media…

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26

Sep

Maltese sentiment highlights challenging Budget 2024

The recent Eurobarometer survey for Malta provides crucial insights into the prevailing mood, particularly as the upcoming Budget 2024 looms on the horizon. The economic landscape in Malta, a primary…

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14

Mar

Euro zone ministers back tighter fiscal stance for 2024

Euro zone finance ministers on Monday backed a European Commission recommendation to start tightening fiscal policy, gradually phasing out government support against high energy prices to business and households. The European Commission called last week on EU…

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23

Dec

Italy government faces confidence vote on 2023 budget

ROME (Reuters) -Italy's Chamber of Deputies will hold a confidence vote late on Friday called by the government to speed up approval of its expansionary 2023 budget before a year-end…

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22

Nov

Italy approves 2023 budget with 35 bln euros to lift economy

Italy's new right-wing government signed off on its first budget on Tuesday, a package focusing on curbing sky-high energy bills and cutting taxes from next year for payroll workers and…

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17

Nov

UPDATED: Britain’s budget: What you need to know

LONDON, Nov 17 (Reuters) - British finance minister Jeremy Hunt announced a string of tax increases and tighter public spending in a tough budget plan on Thursday that he said…

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06

Nov

UK government faces tough budget decisions, says minister

LONDON, Nov 6 (Reuters) - Britain's government is facing significant and difficult decisions on taxes and spending in an effort to plug a budget shortfall, cabinet office minister Oliver Dowden said on…

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25

Oct

UPDATED – Malta Budget: Constituted bodies welcome energy subsidies, lament lack of economic growth model

Reactions to Budget 2023 The Malta Chamber of Commerce Bolder measures needed for a more sustainable economic growth model - Chamber The Chamber of Commerce said that it is evident…

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18

Oct

Despite tax U-turn, UK’s Hunt still faces tough budget choices

The screeching about-turn on tax cuts by finance minister Jeremy Hunt on Monday will not spare Britain from painful spending cuts and new tax hikes to fix the country's public…

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11

Oct

UK needs 62 billion pounds of cuts or tax rises to tame debt – IFS

British finance minister Kwasi Kwarteng needs to make 62 billion pounds ($69 billion) of spending cuts or tax rises to stop public debt growing ever-larger as a share of the…

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11

Oct

UK’s Finance Minister moves to calm investors with early budget date and Treasury pick

British finance minister Kwasi Kwarteng, who last month sparked a bond market rout and international consternation with unfunded tax cuts, brought forward his next budget announcement by nearly a month…

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27

Sep

Ireland aims to ease cost of living squeeze with ‘two budgets in one’

DUBLIN (Reuters) -Ireland will deliver what ministers have called two budgets in one on Tuesday, making higher than usual spending increases and tax cuts while also helping firms and consumers…

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26

Aug

Electricity subsidy to increase to €250 million by end of the year / Malta News Briefing – Friday 26 August 2022

1745- Latest News update Times of Malta says Prime Minister Robert Abela on Friday said Nationalist Party was being “populist and sensationalist” when it called for the deportation of foreign…

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09

Aug

Shelve air-fairy projects, MEA tells Government in budget proposals

The current strain on public finances calls for a rationalisation of expenditure to bring the deficit to manageable and sustainable levels, the Malta Employers Association said today as it presented…

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22

Nov

EU Budget to dominate proceedings during EP’s plenary session

The European Union's Budget for 2022 is expected to dominate the European Parliament's second plenary session of November, taking place in Strasbourg, with MEPs pushing on the agendy further scrutiny…

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07

Nov

‘Finally, infrastructure week!’ Biden says, cheering $1 trillion bill

WASHINGTON, Nov 6 (Reuters) - The $1 trillion infrastructure bill passed through https://www.reuters.com/world/us/bidens-sweeping-infrastructure-social-spending-bills-finally-get-vote-2021-11-05 Congress on Friday night is a "once in a generation" investment that will create millions of jobs,…

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06

Nov

U.S. Democrats pass $1 trln infrastructure bill, ending daylong standoff

WASHINGTON, Nov 6 (Reuters) - After a daylong standoff, Democrats set aside divisions between progressives and centrists to pass a $1 trillion package of highway, broadband and other infrastructure improvement,…

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29

Oct

Italy’s Draghi cuts taxes, raises retirement age in first budget

Italian Prime Minister Mario Draghi presented his first budget on Thursday, aiming to lower the public deficit next year while cutting income and corporate tax. Draghi, who took office in…

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21

Oct

EU budget for 2022: MEPs want focus on COVID-19 crisis recovery

MEPs want to support recovery from the pandemic, boost investments, tackle unemployment, and lay the foundations for a more resilient and sustainable Union.Parliament voted on Wednesday (results announced on Thursday)…

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19

Oct

EU starts debate on budget rules amid high debt levels

The European Commission opened a debate on Tuesday on how to reform the European Union's fiscal rules to deal with a pandemic-induced surge in public debt and with the huge investment needed to fight climate change. "We are re-launching this…

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19

Oct

George Degiorgio gets €10k as court rules wiretap breached privacy / Malta News Briefing – Tuesday 19 October 2021

Updated 1300 - Mid-Day Briefing Covid-19 Update: 22 new COVID cases were reported by health authorities who on Tuesday said a further 21 people recovered. 13 people are hospitalised, 2…

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18

Oct

PN Leader replies to Budget 2022 / Malta News Briefing – Monday 18 October 2021

Latest Briefing- 1745 Times of Malta says that around 80 peripatetic teachers who were transferred to primary schools at the beginning of the scholastic year have been ordered by their…

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12

Oct

Reactions pour in as Budget 2022 announced / Malta News Briefing – Tuesday 12 October 2021

Latest Update- News Portal Briefing Times of Malta says the government has not updated its concession agreement with Steward Healthcare, Health Minister Chris Fearne said, as financial estimates issued with…

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12

Oct

MHRA says budget invests in quality of life

The Malta Hotels and Restaurants Association (MHRA) has welcomed the budget, defining it as a clear investment in the quality of life. The MHRA noted with satisfaction various incentives addressing…

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12

Oct

Malta Budget 2022: Teachers’ Unions say Budget ignores challenges facing educators

The MUT expressed disappointment with yesterday's Budget, arguing that educators were left out in the cold and their challenges completely ignored. It also lamented the fact that government had ignored…

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12

Oct

Malta Budget 2022 at a glance: The Key Measures

Minister of Finance Clyde Caruana presented his first budget - and the last of this legislature on Monday evening, with a strong emphasis on social and environmental elements. The promise…

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12

Oct

A pre-election budget built on strong assumptions – MEA

The National Budget for 2022 has the characteristics of a pre-election budget which commits itself to increased expenditure, strengthening the social safety net whilst softening the tax burden in certain…

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12

Oct

Malta Chamber says Budget 2022 acknowledges present realities

The Malta Chamber of Commerce, Enterprise and Industry has welcomed this year’s budget saying that it recognizes the challenging fiscal position in which the Minister of Finance formulated the Budget.…

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12

Oct

Malta Budget 2022: SME Chamber says Budget encourages work and investment but ignores grey-listing impact on SME

The Malta Chamber of SMEs has noted a number of positive initiatives that will aim at pushing both businesses and workers forward. Addressing Malta’s human resources crises, the Budget will…

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11

Oct

Budget Day 2022 – Inflation up to 2.25%: Malta News Briefing – Monday 11 October 2021

Latest update: News Portal briefing Times of Malta says possible discrepancies in testimony given by former FIAU manager Jonathan Ferris at the Egrant inquiry sparked criminal investigations against him for…

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14

Sep

Malta Chamber calls for budget addressing immediate needs while paving way for long-term vision

The Malta Chamber has presented its pre-budget proposals to the Prime Minister and members of the cabinet, calling for a budget which addresses immediate business needs which also pave the…

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12

Sep

Bulgaria’s parliament approves 2021 budget changes ahead of polls

SOFIA, Sept 11 (Reuters) - Bulgaria's parliament approved on Saturday changes to the 2021 state budget aimed at shielding the country from an upsurge in coronavirus cases and woo struggling…

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07

Sep

UK PM Johnson raises taxes to tackle health and social care crisis

LONDON, Sept 7 (Reuters) - British Prime Minister Boris Johnson set out plans on Tuesday to raise taxes on workers, employers and some investors to try to fix a health and social…

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24

Aug

Facing divisions, U.S. House Democrats postpone vote on $3.5 trln Biden plan

Democrats in the U.S. House of Representatives early Tuesday postponed a vote to advance President Joe Biden's ambitious plan to expand social programs, as liberals and centrists remained at odds over…

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06

Jul

Net-zero carbon impact on UK debt could be less than pandemic hit

The impact on Britain's public debt mountain caused by action to meet the country's net carbon zero target by 2050 could be less severe than that of the coronavirus pandemic,…

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06

Jun

Clock is ticking on infrastructure, Biden officials say

The Democrat-led U.S. House of Representatives will start the process of preparing an infrastructure bill for a floor vote on Wednesday, with or without Republican support, U.S. Energy Secretary Jennifer…

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29

May

Biden’s big budget comes with a modest growth outlook for an ageing country

President Joe Biden's first budget proposal comes with a big price tag - at $6 trillion, roughly 50% higher than pre-COVID-19 federal spending - but, at least for now, projects…

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13

May

Biden set to release first detailed budget of his presidency on May 27

May 13 (Reuters) - U.S. President Joe Biden will unveil the first detailed budget proposal of his term in office on May 27, a spokesman said, offering a window into…

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09

Apr

Biden’s first budget fuels health, education spending in sharp change from Trump

WASHINGTON, April 9 (Reuters) - U.S. President Joe Biden asked Congress to sharply increase spending to combat climate change and gun violence and to support education in a budget that marks a sharp departure from his predecessor, Donald Trump. The $1.5 trillion budget, reflecting an…

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30

Mar

Malta’s deficit shoots up to €1.5bn in 2020

Government has ended 2020 with a deficit of €1,467.9 million, the NSO revealed today, some €250 million more than forecasted by former Finance Minister Edward Scicluna in the budget announced…

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09

Mar

Tax rises to pay for 60% of UK deficit reduction

 Finance minister Rishi Sunak aims to balance Britain's public finances by relying 60% on tax rises and 40% on spending cuts, a sharp reversal of the government's approach after the…

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06

Mar

Senate passes Biden’s $1.9T COVID-19 bill on party-line vote

WASHINGTON (Reuters) - The Senate on Saturday passed President Joe Biden’s $1.9 trillion COVID-19 relief plan in a party-line vote after an all-night session that saw Democrats battling among themselves…

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03

Mar

UK Budget – An extension of the COVID rescue plan and a proposed tax hike on companies

LONDON, March 3 (Reuters) - Finance minister Rishi Sunak on Wednesday announced a costly extension of his emergency aid programmes to see the economy through its current coronavirus lockdown, but announced a…

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22

Dec

Italy’s government to call for confidence vote and Renzi’s bluff over budget

ROME (Reuters) - The Italian government will call for a confidence vote in the Chamber of Deputies on Wednesday over its 2021 budget which targets the fiscal deficit to fall…

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10

Dec

Sassoli to European Council: Today it is time to conclude for the good of the citizens

“As we are all painfully aware, 2020 is a year that will go down in the history books. The pandemic we are facing is unprecedented, as are the measures we…

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09

Dec

UPDATE – Poland, Hungary accept German EU budget offer as ‘D-Day’ approaches

WARSAW/BUDAPEST, Dec 9 (Reuters) - Poland and Hungary have provisionally accepted a European Union budget proposal from the bloc's German presidency and are now awaiting further approval from the Netherlands…

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01

Dec

Germany’s Scholz: No EU country would be “so unwise” as to block recovery plan

European Union member states will soon agree on a disputed rule-of-law mechanism linked to the bloc's recovery plan as all countries, including Poland and Hungary, would benefit from its approval, German Finance Minister Olaf Scholz said on…

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30

Nov

Israel 2021 budget worth $129 billion to be presented to PM Monday

Israel's Finance Ministry will present a long awaited 2021 state budget to Prime Minister Benjamin Netanyahu on Monday that will total 426 billion shekels ($128.5 billion), a ministry source said…

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17

Nov

Italian Cabinet approves budget, deficit at 7%

The Italian cabinet on Monday approved a 2021 budget targeting a fiscal deficit of 7% of national output, compared with 10.8% this year, but two government sources said next year's goal will soon be hiked to allow for more economic stimulus. The…

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