Intervention on RTK Radio by Michael Debono on Budget 2019

On Monday 22nd October, 2019 Budget Day, the CEO of DConsulta Michael Debono was asked to make a short intervention on the RTK Radio programme dealing with the budget speech by Minister Scicluna which was being aired on TV and radio at the same time.

Michael was asked about his opinion on the highlights of the Budget 2019 speech and he mentioned the importance of successive budgetary surpluses attained by Malta in the last few years, which are partly being utilized to reduce national debt below the 50% threshold – aiming for 43% of GDP for 2019. He mentioned that this is hugely important factor in long term planning for Malta as it will enable the country to be able to obtain debts at favourable interest rates in the future for major infrastructural projects.

He also mentioned the importance of the Home Equity Release initiative which would be a very important tool, till now at available to Maltese pensioners and people in old age. Such Home Equity Release schemes would assist old age people to be able to take out debts in order to be able to finance home care, thus increasing the level of care and achieving the aim of the government for old people to be taken care of in their own home.

With regards to SMEs, Michael mentioned the opportunities available for SMEs for tax credits such as micro invest and also funding under the Business Enhance Schemes, which are crucial in assisting SMEs to grow. He highlighted the budgetary incentive mentioned by the Minister which will see Gozo based firms benefiting from funds up to Eur6,000 for employing new personnel within their operations.