Edward Scicluna

Government committed to enhancing Malta’s business competitiveness

The Government is looking towards the introduction of competitiveness indicators aimed at monitoring the competitiveness of our business sector. “We are to make sure that we improve our competitiveness, this is in view that those European countries which went through the economic and financial turmoil, will emerge much stronger after the crises,” said the Minister for Finance Prof. Scicluna.

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In order to safeguard and retain this competitiveness, the Government will be addressing issues such as the retraining of our youths so that they will become more employable. Another area that will be closely monitored is the bank loans and the lending rates. However the Minister will be able to comment once the reports from MFSA and MCCAA are completed.

 

 

Minister Scicluna has taken note of the issues raised by the business community, including the alleged practices of unfair trading and evasion of eco-tax and VAT. He also recently reassured the constituted bodies that at present these problems are being evaluated and discussed so as to come up with a workable solution.

With regard to the Enemalta issue, Prof. Scicluna stated that “we will be making sure that this company, from a loss making and insolvent company will become sustainable and profitable.” He stressed that the reduction in tariffs is being financed through a separate agreement that was reached with Electro-Gas.

As confirmed by international institutions and credit rating agencies, the Government has managed to reduce the deficit, increase employment, boost consumer and business confidence and raise economic growth. The Government is determined to maintain and improve on this performance.

 

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 Tuesday, 27 May 2014

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