Prime Minister Meets SME Chamber Ahead Of Budget 2027
The Government said Budget 2027 will provide clear direction, confidence and continued support for Malta's economy as Prime Minister Robert Abela met representatives of the Malta Chamber of SMEs during a pre-Budget consultation at the Auberge de Castille.
According to the Government, the meeting formed part of ongoing discussions ahead of the presentation of next year's Budget, with representatives of the Chamber outlining proposals aimed at supporting businesses and economic growth.
During the meeting, Prime Minister Robert Abela said Budget 2027 would represent another step towards translating Malta's long-term vision into more opportunities for businesses and a better quality of life for the public.
He noted that discussions are currently taking place on both the national Budget for 2027 and the European Union's Multiannual Financial Framework for the 2028 to 2034 period.
The Prime Minister said that despite international geopolitical challenges and higher energy prices abroad, the Government would continue supporting strategic sectors such as energy to maintain stable prices for households and businesses.
Robert Abela described small and medium-sized enterprises as both the backbone of the European Single Market and a key pillar of Malta's economy. He said the Government intends to present a Budget that provides clear direction, confidence and certainty while continuing to support an economy that is delivering positive results despite the current international climate.
He added that building a stronger and more competitive economy requires long-term planning, decisions that strengthen sustainability and measures that encourage sustainable growth. He also said the Government would continue supporting businesses in the future, just as it had during difficult periods including the COVID-19 pandemic.
The Prime Minister identified digital transformation as an important priority for business growth, referring to initiatives encouraging investment in digitalisation, automation, artificial intelligence and research and development. He said these schemes are intended to help businesses improve productivity and competitiveness in both the local and international markets, while stressing that investment in technology must be matched by investment in workers.
According to Robert Abela, around 40,000 people have registered for the AI for Everyone initiative, with 23,000 successfully completing the training and receiving a free artificial intelligence software licence.
He said the Government would continue working with the same pace and determination shown during its first 100 days so that Budget 2027 contributes to stronger businesses and an improved quality of life for the Maltese and Gozitan people.
Representatives of the Malta Chamber of SMEs presented the Prime Minister with proposals based on five pillars, covering investment and compliance, governance and fair competition, productivity, energy and resources, and transport and mobility.
They also welcomed the recently announced reduction in the tax on business transfers between family members from 5% to 1.5%, describing it as a positive measure that will encourage investment and support Malta's economic growth.
The Chamber thanked the Government for its continued support for businesses, including the wage supplement introduced during the pandemic, and said it looked forward to strengthening dialogue and collaboration on future economic priorities.
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