The Malta Developers Association has reacted to the 2024 Budget measures revealed yesterday, expressing its disappointment at the lack of incentives for sustainable development in Malta.

Speaking with Net News, Leon Chetcuti noted the positive outcomes from the Budget speech, while noting areas where Finance Minister Clyde Caruana could have taken more action.

“We saw a positive budget based on continuity, we saw that this Budget includes subsidies on electricity and water, as well as the fact that there weren’t any new taxes introduced or increases to existing taxes,” Chetcuti said.

He also addressed the fact that due to Malta’s strong economy, the government was in a position to offer more social help for people in need and the general public. 

“As the MDA we are satisfied that the Finance Minister retained existing proposals made by the MDA touching upon the property sector, including the first-time buyers scheme.” 

However, he expressed his disappointment at the government for failing to introduce incentives which assist sustainable development in Malta or target the extra bureaucracy present during certain process. 

“The MDA is disappointed at the Minister for failing to introduce tangible measures to tackle the unnecessary bureaucracy which he also referred to himself can be eliminated.” 

“The MDA is also disappointed at the Minister for failing to introduce incentives which can assist sustainable development, particularly measures on green buildings.”

Sustainable development is essential for Malta’s long-term prosperity, environmental protection, and resilience against climate change. It not only addresses local challenges but also aligns with international sustainability goals, making Malta a responsible global citizen in the face of pressing environmental issues.

Do you think that Malta needs to focus more on sustainable development?