Cover photo: Prime Minister Robert Abela and Economy Minister Silvio Schembri during a recent meeting with employers’ associations and unions
Prime Minister Robert Abela will tonight launch a new financial aid package to help struggling businesses and the upcoming measures have already won the support of the Malta Hotels and Restaurants Association.
“The MHRA and MCESD social partners have unanimously reached an agreement with Government on new measures to support the economy in these difficult times,” the MHRA said. “More detailed information will be given in the coming hours by Prime Minister Robert Abela in an address to the nation.”
“Let’s keep united and together bring back our tourism sector as a winner for the benefit of Malta. MHRA, there for you when it matters.”
The government last week launched a €1.8 billion package to help businesses but this was largely focused on tax deferrals and bank guarantees.
Businesses who have been forced to temporarily shut down as a precaution against the spread of COVID-19 were only given €320 per employee to cover their salary costs.
This package was widely criticised by social partners as being inadequate, with the MHRA warning several hotels and restaurants will be forced to lay off employees or close down.
However, Abela said last Sunday that the government will intervene more aggressively to safeguard jobs, even if it comes at the cost of its budget going from a surplus to a deficit.