Some of the main highlights that have been announced in tonights Budget 2011are as follows:

Cost of living increase will be €1.16per week.

There will be increases in the threshold of a number of social benefits so that those who receive them would not lose eligibility once the cost of living increase commences.

Excise duty on fuels will rise by 3 cents per litre, with immediated effect,

There is an immediate excise duty being introduced of €9 per ton of cement.

The government is expecting a GDP growth of 3.4%, while inflation is expected to go up to 1.8.

The tourism accommodation tax on collective and private accommodation will increase from 5% to 7%.

Small businesses will be able to benefit from tax refunds of up to €10,000 on efficiency investments.

For students in forms one, two and three voucher of €15 will be given every year for use in cultural activities

Part-time self-employed women will be charged a tax rate of 15% in preference to an N.I. contribution.

There will be a €200 increase in tax rebates that are given to parents who send their children to private schools.

There will be an allocation of €41 m for the rebuilding of arterial roads, such as the road to Cirkewwa, the Marsa-Luqa road, the road to Menqa in Marsa and the Xewkija-Victoria road. €15m is to be spent on residential roads.

Permalink: The main highlights of tonights Budget 2011