MCESD meeting on Government’s €900m financial package

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MCESD yesterday led a meeting for social partners, along with Minister Carmelo Abela and Minister Silvio Schembri, on the 900-million-euro financial package.

The regeneration plan was initially announced by PM Robert Abela.

The aim of this package is to decrease the costs of businesses, to give a boost to domestic demand, and to give direct support to industry while incentivising work.

The measures are tied to the:

  • Covid Wage Supplement
  • Water and electricity bills revision
  • Decrease of seven cents in the price of petrol and diesel
  • Decrease in tax rate on property purchases
  • Decrease in tax for those who are developing a property or contracts that take place after June 1, 2020 till March 31, 2021
  • €50 million for rental expenses up to a maximum of €2,500 for each business
  • Voucher of €100 for every person aged 16 and over to be utilised in all types of accommodation as long as the type of accommodation chosen is operating with a licence, restaurants or a business that had closed.

For more information on other Government measures please visit https://www.tvm.com.mt/en/local/