The Minister for Gozo Dr Anton Refalo, has issued a pre-budget prognosis, in which he describes the next Budget as being “yet another step toward maximising Gozo’s potential to the benefit of its industrious community.”

He added that, “the pre budget vision for Gozo is Investing in infrastructural and Human Capital.”

Dr Refalo said that the “Pre Budget Document 2015 embodies the Government’s commitment to ensure that the whole of society can benefit from the economic stability and successes achieved so far.”

The pre-budget prognosis by the Minister for Gozo is shown in full below;

“Titled ‘Creating Opportunities, Not Dependencies,’ the document lays out the Government’s vision for the upcoming Budget 2015, which will look towards ensuring that social welfare reflects the government’s objective of creating opportunities while discouraging dependencies. At the same time, sustainable social protection will be guaranteed.

The Government’s past commitment to achieve macro-economic stability, and to ensure a higher level of certainty for local and foreign investors, has paid off in terms of growing business activity, job creation and higher consumption.

During the past year, the Maltese economy enjoyed robust economic growth, with record growth rates in employment, declining unemployment rates, a reduction in the cost of living, and higher valued added recorded by the majority of industries.

The Government is also delivering on its promise to rein in the deficit well below 3 per cent and is also gradually reducing the debt ratio toward 60 per cent benchmark.

Besides remaining committed to a growth-oriented strategy through the ‘making work pay’ principle, the Government intends to extend this approach into the social policy area by ensuring that the welfare system guarantees the necessary level of social protection, while minimising the dependency effect.

The Government will be looking towards initiatives intended to create clear incentives for individuals to work and contribute to society and to encourage them to steer away from dependency, whilst ensuring the attainment of value for money in public expenditure, as well as the long term sustainability of social protection in Malta.

The pre budget vision for Gozo is Investing in infrastructural and Human Capital.

The added constraints imposed on Gozo have long been established. Their identification is only a first step. It is our belief that Gozo identity is a strength that must be promoted and enhanced. This Government strongly believes that with the right investment and incentives, Gozo can maximise its potential and continue to prosper. Several initiatives have been proposed aimed at making Gozo more attractive to investment.

In past budgets, various measures and initiatives have been targeted towards Gozo:

Shifting back office operations to Gozo so that more job opportunities can be found for Gozitan workers allowing them to remain within their own communities – examples include the migration of salaries section pertaining to MFSS, the migration of VAT returns, and that of the eResidence Unit, and the National Office of Statistics also opened a new section based in Gozo for the compiling of Gozo related data and indicators.

Start-Up Tax Credit – Malta Enterprise has announced incentives where Gozitan based enterprises can benefit from tax credits for a maximum of €50,000 over any period of three consecutive years.

Yacht Marine/ Cruise Terminal in Gozo – an expression of interest for the construction of a Yacht Marina and Cruise linear Terminal has been issued and it now at the stage where proponents have to submit detailed technical studies. Plans to have a modern home for the elderly are underway. A site has been identified and studies submitted to MEPA for approval. will have positive impact on Gozitan economy, employment, tourism industry etc.

Government has also announced the setting up of Barth Medical School in Gozo. Once fully functional, this initiative has the potential of fostering positive synergy with the Gozo General Hospital in creating additional activities.

This Government is fully committed to continue promoting the potential of Gozo as a prime tourist location. Efforts have been increased to regenerate the Cittadella. Tenders for the restoration of Cittadella, including the facade of the present Law Courts, the Governor’ Palace, the Old Prison, and the Arched Walkway among others have all been issued. The tourism industry has also been supported through Travel to Gozo Scheme, whereby commuters are offered special prices during specific weekends,” the Minister concluded.

Photo: Pre-budget Consultation Meeting recently held in Gozo, with Finance Minister Prof. Edward Scicluna

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