Budget 2024 – Highlights announced for Gozo and more…

by Gozo News · October 30, 2023

Finance Minister Clyde Caruana, presented Budget 2024 this evening with the theme – Gusta Malta (a fair Malta) in the House of Representatives.

Prime Minister Robert Abela said that it was a budget “designed by people for the people.”

Some of the highlights of this Budget announced for Gozo and of general interest, are shown below, and may be updated:

€58 million will be allocated to Gozo in full from EU funding for the implementation of the Sustainable Urban Development, the Minister said.

€75 million will be invested by the Government in running Gozo General Hospital and Karin Grech, the Minister said. However there was no mention at all about a new hospital for Gozo

Studies for the proposed Gozo Airfield project have reached final stages, the Finance Minister said.

Dar San Guzepp home for the elderly in Ghajnsielem will begin operating in March.

With regards to restoration projects for Gozo – the Finance Minister said that geological studies have been started on Ghar Gerduf close to the valley of Kercem.

The reduced stamp duty for property purchased in Gozo will finish at the beginning of next year.

Gozo first-time buyers grant on properties in UCA or vacant properties, will increase to €40,000 from €30,000, the Minister said.

Focus will be given to the Visit Gozo branding. The long-stay scheme for tourists in Gozo will be extended through next year.

A Grant for the elderly who live at home or in a private care home are to increase. Over 80s will receive and additional €50, those aged under 80 will still receive €350.

95,000 families will now be eligible for the additional COLA which applies to the most vulnerable. The will receive an extra €100 to €1,500 a year, depending on income. This is extra to the COLA increase.

Pensioners to receive €15 per week increase, this figure is inclusive of the COLA, which will be €12.81 per week.

Minimum wage to rise by €1,082, inclusive of the COLA, this will be from next year.

Energy and fuel subsidies will continue.

Children’s allowance: Each family will get an additional €250 per child each year.

Stipends for students to be increased by €64 next year. Students in some courses will receive higher.

Tax refund cheques will be sent out again next year with amounts ranging between €60-€140, depending on income.

€215 million capitalisation will be invested by the Government in the new replacement airline for Air Malta.