‘Increased taxes would be a cardinal mistake’ says Minister Clyde Caruana

Asked by Mark Laurence Zammit about the next budget, Minister Clyde Caruana stated that there will be no increased taxes for Malta’s upcoming budget. Stating that what the government needs to gather will in fact be gathered, Caruana however added that it will be a cardinal mistake if Malta were to increase taxes.

Il-Ministru Clyde Caruana qal li minkejja l-pandemija, il-baġit li ġej se jerġgħa jkun bla taxxi.

Posted by Xarabank on Tuesday, 30 March 2021

Caruana expressed his disagreement with various countries’ decisions to increase taxes. He stated how countries that did take this course of action had to spend around 8 to 10 years to regrow their economy. He said this is a lesson for all to learn from and that the next budget will give Malta’s economy the open space it needs. He concluded that after the advent of COVID-19, some countries will have accumulated immense debt and thus struggle economically whereas Malta will not for not having the same amount of debt.

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