Around 95,000 households will benefit next year from an additional COLA payment to address the cost of living crisis, Prime Minister Robert Abela announced today.

Addressing a political rally this morning, Abela said the grant, which is currently given to people who earn less than €17,796, will be extended in the 2024 Budget.

He didn’t expand on the specifics but said that the number of eligible households will shoot up from the current 50,000 to 95,000.

The grant will see people given a minimum €100 and a maximum €1,500 to help them deal with the cost of living crisis and will be fully payable by the government, with the private sector not having to fork out a cent.

Abela noted that this benefit will be over and above the €12.81 weekly regular COLA for all workers and the €21 weekly increase in the minimum wage.

Moreover, the government will spend around €350 million next year to subsidise electricity, water, diesel and gas prices.

“Malta will remain the only country that has kept its energy prices stable, and we’re doing this because we want a fair Malta,” he said.