€10,000 grant scheme for first-time buyers extended

Oct 24 2022

During Malta’s Budget 2023 event, it was announced that the government will extend the €10,000 grant for first-time buyers.

The government will provide a grant of €10,000 to all first-time buyers purchasing a property which value does not exceed €500,000.

This measure will apply for all acquisitions from January 1st 2022 onwards and will not be subject to real-estate testing, with the government working with all commercial banks in Malta and Gozo which offer loans for residential properties.

Finance Minister Clyde Caruana expressed that such an initiative will breathe new life into Maltese youths and allow them to become home owners, with a push during their first years of investments.

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Malta’s students to receive stipend increase on pro-rata basis

Oct 24 2022

Malta’s students are set to receive an increase in stipend on a pro-rata basis, the Budget 2023 document has revealed.

In the country’s budget for 2023, which is centred around the slogan ‘Certainty and Stability‘, it was revealed that Malta’s COLA (Cost of Living Adjustment) will rise by €9.90, with pensioners to receive an increase of €12.50.

Meanwhile, Malta’s students will see an increase in their stipend on a pro-rata basis. In layman’s terms, this means that whatever is allocated will be distributed in equal proportions.

Minister for Finance Clyde Caruana is currently presenting Malta’s budget for 2023, with 122 pages of proposals and socio-economic measures.

What do you think of this decision?

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Long live Air Malta? Malta will continue having its own national airline

Malta to get its own airline and increase amount of flights

Oct 24 2022

Speaking during the Budget 2023, Finance Minister Clyde Caruana hinted at more flights and airlines operating to and from Malta.

The Minister highlighted how in these past two years, Air Malta faced a massive challenge and previous governmental decisions left the airline in a position which could not be efficient.

Were the situation to remain as is, the financial pressures could have become completely unviable. The Minister revealed that Malta has began works with the European Commission to find a better solution.

However, a country such as Malta must have it’s own airline no matter the situation.

The Minister said that whatever next step may be, the plan must be that Malta will retain it’s own airline which can access any other place in Europe and be cost-effective at the same time. Whether this will remain Air Malta or not will be revealed later on.

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An increase in carer’s grant to help guardians of persons with disabilities

Oct 24 2022

Addressing the 2023 budget, Finance Minister Clyde Caruana revealed an increase to the Carer’s Grant, which will help parents and guardians who cannot work to care for their adult children who suffer from severe disabilities.

In 2021, the minister highlighted how the government had started to plan on a €300 benefit per year which will increase to €500 in 2022.

This was echoed in the electoral manifesto wherein the government pledged to increase this benefit to half the average national minimum wage.

In 2023, this benefit will be increasing from €500 to a bit more than €4,500 per year and will be issued every 3 months.

In 2023, the government will also be investing the sum of €4.2 million on the concept of personal assistants and independent community living to aid persons with disabilities. This will be the first step to finalise the reform of personal assistant by next year. This will come in line with the European Network for Independent Living.

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