Budget was a turning point - GRTU

The Budget 2010 represents an important turning point, the GRTU said in a detailed reaction to Monday's Budget speech today.

The association said it was pleased that the government gave utmost consideration to most of the proposals and strategies it had recommended.

Support to Enterprise

The GRTU said it was satisfied that the government had voted a total of €80m for enterprise, and that the doors had now been opened to smaller and micro-enterprises in retail, sole-trading and crafts, to benefit also from new and extended funding schemes.

"Government through this support is meeting many of the concerns submitted on behalf of SMEs."

It also welcomed commitments by the government plans to establish a one-stop-shop within Malta Enterprise.

COLA

The association said it understood the government's step of adjudicating to employees the weekly €5.82 cost of living allowance (COLA) and it was satisfied that Government chose to also extend the full COLA increase to all pensioners.

It observed that the Budget had adopted a number of suggestions presented by GRTU that encouraged the spread of tourism accommodation and the facilitating of back-office work in the local communities. G

"GRTU welcomes the government's proposals to cause the diversion of work and the extension of tourism support schemes to the localities. GRTU would have however wanted to see some form of incentivisaton to developers to contribute in this way any invest their funds where the economy needs most."

It also welcomed government support for the training of workers and employment initiatives.

It said that with proposals to merge the tax authorities, businesses expected a visible reduction in the bureaucracy that still over-burdened the administration of taxation systems in Malta.