GRTU presents budget proposals

The GRTU expects the government to prioritise micro and small enterprises in all sectors in its presentation of the budget later this month.

The Chamber of Small and Medium Enterprises, GRTU presented its proposals to the MCESD this morning.

It said the GDP was now growing again as a result of the growth in the economic performance of financial institutions and specialised personal services like e-gaming and the professional services to enterprise, especially consultants, auditors and accountants.

“GDP must now be pushed forward through the growth of micro and small enterprises that represent 99 per cent of the more than 3,400 enterprises registered in Malta.

“GRTU wants an extended loan guarantee scheme to cover an extensive list of investments that will enable micro and small firms to renovate and re-engineer themselves through training and development and investment upgrade to approach effectively the new knowledge based economy that Malta is committed to develop.”

Money, the GRTU said, had to be available for productive work and for reinvestment and new investment on a return basis. It had to be there when it was needed and at advantageous fiscal and financial terms but the money should be returned once the investment was generating.

The planned income and money should be available only to those that the financial institutions certified as credit worthy. The same principle also had to be adopted to households that sought improvements and investment in the education of family members.

GRTU sought progress in the development of the green revolution in Malta. It said it invested directly proving its commitment to the environment. Stronger fiscal incentives had to be given to encourage growth in this sector and to make the green jobs available and within reach of those who sought them.

The GRTU said it expected the budget to approve the package of proposals it advocated to create more environmentally friendly economic activities that would make localities grow and become sustainable.

“Year in year out GRTU has been making proposals to assist the development of economic activities in the localities including back office work and more bed only tourist facilities.

“Now Government must produce the right incentives packaged as proposed by GRTU.

“Government must do more much more to support private efforts. GRTU seeks sustained economic growth. GRTU aims at an enterprise driven economy and a Malta that is productive and sustainable economically, socially and environmentally,” it said.