Watch: ‘We Will Tackle Malta’s Population Issue With More Automation’ – Economy Minister
Economy Minister Silvio Schembri said the government intends to tackle Malta’s population issue by incentivising businesses to invest in automation and get rid of foreign staff.
“We should attack the population issue by continuing to produce and grow at a strong rate but with fewer resources,” Schembri told Parliament.
As announced in the Budget, the government will offer a 60% tax credit to businesses that invest in automation tools.
“We’re telling labour-intensive businesses that the time has come for them to invest in automation,” he said. “If a factory currently employs 100 people – many of whom are likely third-country nationals – the government will support investment in automation, given that unemployment is not an issue.”
“Rather than 100 people, that factory will only need 50.”
“After applying the 60% tax credit to that company’s accounts, it effectively means the government is covering almost the entire investment.”
“This is our vision and strategy, unlike the Opposition which just published a one-liner proposal saying they want to eliminate cheap labour.”
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