A Nationalist government will set up a Development Bank to provide capital for business start-ups, Prime Minister Lawrence Gonzi said this morning.

He said this Development Bank, first announced in Budget 2013 which was not approved, will help those who wish to start their own business by providing the necessary capita.

Speaking at the end of a tour of shops in Mosta, Dr Gonzi said businesses had particularly welcomed the night-time tariff proposals whereby those who, for example left their fridges, freezers and air conditioners on all night, would benefit from special electricity tariffs.

Dr Gonzi said this proposal would compliment another PN proposal granting a two-year tax holiday and government-credited National Insurance contribution, for those under 25 who want to start a business.

Moreover, the same would apply to people aged over 45 years, while the benefits would extend to three years for women and new businesses in Gozo. Gozitans who start a business in Gozo and employ at least two people will benefit from a €200,000 tax credit.

Dr Gonzi also announced the publication of a legal notice which will bring into effect on of the measures announced in the budged for a tax exemption in the transfer of family businesses. He lambasted Opposition Leader Joseph Muscat for making him measures announced by the government in the last budget.

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