Finance Minister: Malta’s Cost Of Living Would Rise Even Further If Subsidies Weren’t In Place
Malta’s next budget would have to include an increase of around €17 for cost of living adjustment if the government wasn’t already subsidising key areas.
In this case, employers would have to pay between €16 to €18 a week to cover cost of living costs.
Finance Minister Clyde Caruana said that a Finance Ministry study had found that if the government not subsidise the increases in cost for other products – such as energy and cereals – the overall cost of living increase will rise to €17 a week.
The announcement was made by Caruana in Parliament this evening, making the announcement during the House adjournment. TVM reported that the Finance Minister also announced an €8 a week addition to the upcoming budget.
You can follow Caruana’s full speech here:
Inflation and the rising cost of living has been on everything’s minds recently, from pensioners to ministers.
One man’s struggle to keep up with buying essential every day items went viral, racking up tens of thousands of views in just a matter of days.
This article has been updated with further comments on Malta’s cost of living
Do you think this increase will impact people’s pockets?
READ NEXT: Do Not Leave Deckchairs Out Overnight If You Care About Environment, Maltese Ranger Warns
