One of the first measures to have been announced in today’s budget is the increase in compensation for the cost of living.
The increase in compensation will be of €1.75 and is calculated according to a formula established by the Malta Council for Economic and Social Development (MCESD).
This increase will be given to all workers, pensioners and those with social benefits. Student stipends will be increased on a pro-rata basis.
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During the traditional ceremony, which was also attended by Parliament’s Speaker Anelu Farrugia, President Vella signed the budget documents.
Prime Minister Robert Abela disclosed this morning that the budget would be called ‘Maltin b’Sa’itna’ l Quddiem. This is Prime Minister Abela’s first budget and Finance Minister Edward Scicluna’s eighth.
The Budget speech will be transmitted at 6.30pm on TVM
Inside sources have reported that a second round of government vouchers is likely to be announced during today’s budget.
Following Prime Minister Robert Abela’s meeting with the Malta Hotels and Restaurants Association regarding a second round of vouchers and a heavier focus on the retail sector, it is highly likely that the latter may come into fruition.
Tonight’s budget may Finance Minister Edward Scicluna’s last according to Labour Party insiders, with this budget being the 74-year-old’s eighth one.
Following the aftermath of the Caruana Galizia murder and his own testimony, Scicluna told inside sources that he wanted to leave his ministerial role.
With Miriam Dalli and Clyde Caruana’s entry into Parliament, this could hint at a serious reshuffle for the Labour Party.
