WATCH: Maltese Who Moved Overseas Should Be Enticed Back Through Tax Exemptions, PN MP Proposes
Malta should introduce fiscal incentives to entice people who moved out back to the country, Shadow Finance Minister Mario de Marco has proposed.
“We need to stifle a certain brain drain that we’re witnessing,” de Marco during an interview on Lovin Daily.
“I think there are many young people of great talent who are leaving the island and we need to do something to entice them to remain here. If we haven’t succeeded then we must try to entice them to come back here.”
“Maybe we can give them certain tax exemptions for a year or so if they come back to Malta.”
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“Let’s think out of the box, I’m sure we can get these people here. We used to pride ourselves as a centre of excellence and if we want to return to that state, we need to attract talent back, we need to attract the intelligentsia back.”
Earlier today, an EY survey found that around 70% of Millennials and Gen Zs see their future outside of Malta, with most wanting to settle down in another European country.
Youths ranked overdevelopment and the environment as Malta’s two biggest challenges by far.
De Marco admitted that tax incentives alone won’t attract Maltese migrants back home and that the country must seriously offer a better quality and standard of living.
“Tax entices them but ultimately you want to live in a good environment,” he pointed out.
Following the EY survey, Lovin Malta has published a poll asking people whether they would rather live in Malta or overseas.
Would you rather live in Malta or overseas?
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