This weekend marks the distribution of the first of two payments under the additional cost-of-living adjustment (COLA) mechanism, designed to support families facing inflation. The initiative complements existing subsidies on energy and grain prices and aims to assist over 97,000 households.
The announcement was made by Minister for Social Policy and Children’s Rights, Michael Falzon, during a press conference on Wednesday. He explained that the expanded benefit will reach more families this year, with the government investing nearly €24 million in the first payment. “We are committed to helping people during challenging times. It is our responsibility to provide support in the best possible way,” said Minister Falzon.
Permanent Secretary Mark Musu outlined how the payment is calculated, factoring in family or individual income compared to 60% of the National Median Equivalized Income, as well as household size. The income considered is the net income for 2023, as reported by the Tax Department, after deductions for taxes and social security.
The benefit amount increases for lower-income families and larger households, with a maximum payment of €1,500 annually. This initiative highlights the government’s focus on easing financial burdens and ensuring long-term support for families most affected by inflation.
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