The Government has announced an economic regeneration plan in light of the Covid-19 pandemic during a press conference held at Fort St Elmo this evening.
Prime Minister Robert Abela said that the package of measures will provide confidence and is estimated at €900 million, with the aim of assisting businesses, encouraging the public to spend and helping economic growth.
Among the measures announced are vouchers worth €100 which will be issued to everyone aged over 16, which will be valid until September and divided into €20 vouchers.
The Prime Minister explained that €80 can be spent on bars, restaurants and accommodation, with the remaining €20 to be spent in businesses that had been closed because of the Covid-19 pandemic.
Fuel prices will be reduced by 7 cents a litre from next Monday, when the price per litre for diesel will be €1.21 and petrol will be €1.34.
Homes for the elderly will be allocated €2 million, this is to help with the extra expenses because of the Covid-19 pandemic
An allocation of €3 million is being made to voluntary organisations to help with the loss of fundraising activities and donations.
The Prime Minister also announced and extension of the wage supplement, which be until September. It will remain in force until the end of this month and will then be divided into three categories. For full information please click here [1].
Abela explained that those receiving in-work benefit will see an increase in rates for every child, as well as a grant of €250 for every family on this benefit.
Malta Enterprise has assisted some 21,000 companies over the last weeks, these companies can now also receive assistance with utilities bills and business rents. There are also tax credits which will be partly converted to grants, this equates to businesses in Gozo being able to receive up to €2,500 and in Malta up to €2,000. For more details please see on the link as above.
Trade licence fees are also being wavered this year.
Those couples in Gozo and Malta who had to postpone their wedding plans due to the pandemic, will be able to claim a refund of up to €2,000.
For anyone buying a property until March 2021, stamp duty will go down from 5% to 1.5%, while anyone selling a property will see a reduction of duty from 8% to 5%, this applies to properties that are valued up to €400,000.