The government announced a series of new economic measures to help stimulate the Maltese economy last night, and they touch upon a series of different and important sectors.
They ranged from rent subsidies to vouchers to spend on food or drinks, as you see fit. Here at nine things the government pledged to give Maltese people.
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Posted by MaltaGov on Monday, June 8, 2020
1. Every resident above the age of 16 will receive €100 to spend at bars, restaurants, hotels and in retail.
These will be in the form of five €20 vouchers. They will be eligible to be used until September.
2. Students and working pensioners will finally be eligible for the wage supplement scheme according to where they work.
This will not be backdated and will start in June.
3. Malta’s petrol and diesel prices will drop by 7c.
Even though Malta’s hedging policy means the price of fuel cannot go down, the government will be dropping the customs duty on fuel.
Even with this, Malta is still paying some of the highest prices in Europe.
4. Up to €2,000 for couples who postponed their weddings.
Couples may be able to recover some of the deposits they lost due to the pandemic.
5. €400 million for infrastructure refurbishments.
The funds are set to modernise Malta’s economy, especially in areas like life sciences, business incubation, and the SME park.
6. Half of businesses’ rent can be covered by the government.
Businesses affected by COVID-19 can claim grants of a maximum of €2,500, giving them a much-needed boost during these uncertain times.
7. Property stamp duty will drop to 1.5% for buyers.
Tax will also be withheld for sellers in a bid to reinvigorate the real estate market.
8. Almost 210,000 people will receive a tax refund.
In the coming days, close to 210,000 people will receive the tax refund given in the past few works. The in-work benefit has been extended to include more low-income families. They will also be given an extra €250 grant.
9. A new fund for NGOs and elderly homes.
Close to €3 million will be made available for NGOs, many of whom were hit badly by the pandemic. Meanwhile, elderly homes, who saw their expenses grow while staff stayed there to help with the crisis, will get €2 million.