€11m more for higher education

The University Trust Fund for research, innovation and development will finally be created, encouraging research at University for commercial and industrial purposes. Whoever gives a donation of €150 or more will benefit from a reduction of the same amount from the taxable revenue, up to a maximum of €50,000.

Meanwhile, an €11 million increase in expenditure to be shared between the University, Mcast, ITS and Junior College.

There is also an investment of €36.9 million being made in a new ICT Faculty, IT Department and the improvement in the library facilities within the University. However, that comes from EU funds.

In all, €270 million will be spent on education next year, meaning a six per cent increase, or €16 million more than 2009.

An e-learning programme worth €16 million will also be launched, equipping schools with the best IT, communications and computers.

The government has already replaced all computers in government schools, strengthened the internet system, and provided a laptop to all teachers in the primary and secondary schools.

The Budget has stressed the importance of excelling in creativity as a motor of the economy.

This will include fiscal benefits for Maltese creative writers to help them publish their works.

Similar benefits will also apply to sound recording houses, undertaking expenses on interactive digital media, which will also cover the costs incurred to lure projects from abroad.

In addition, tax credits will be given for computer animation, special effects, films and television programmes and production services.

Those starting tertiary studies both locally and abroad, will be able to claim a deduction in their taxable income.

However, to benefit, they must not be receiving any other form of assistance for their studies from a government department or other entity or from the private sector. Scholarships will be provided in Arts studies, while the Malta Film Commission will start training courses to boost the talent needed in this sector.

The Award For Creativity And Innovation is being launched, with a fund of €100,000 which will help incentivise more investment in creativity and innovation in the education, arts, technology and manufacturing sectors. This will also include recognition for the Young Creative Entrepreneur.

Meanwhile, a study will be commissioned to look into the possibility of investment in a sound stage to sustain the film industry.

There will also be a reduction in satellite licences for industrial purposes.