Gozo is to get extra EU funds to make sure the island is adequately compensated due to its double insularity, Prime Minister Lawrence Gonzi said yesterday.

During a breakfast with the Gozitan business community, Dr Gonzi said in the next seven years Gozo will qualify for 10 per cent of the €1,128 million of new EU funds negotiated with Brussels and will also benefit from around 20 per cent of the funds dedicated specifically to Malta for regional development.

“This is why we took a political decision to increase Gozo’s funding so that the island can continue to make a quality leap forward.”

Dr Gonzi said that over the past five years the Government had invested heavily in the island and mentioned major infrastructural projects such as the building of new arterial roads, the revamp of Villa Rundle and the ferry terminals in Mġarr and Ċirkewwa.

Referring to the electoral programme, Dr Gonzi said this includes important proposals to continue to improve Gozo’s accessibility, including a direct fast ferry-link between the Grand Harbour and Gozo and continued studies on the development of a permanent link, possibly by an underwater tunnel.

Dr Gonzi said that the PN is also determined to increase the opportunities for young Gozitans to find good jobs on the island.

Incentives, including various tax credits for SMEs, will be introduced, including a two-year tax holiday of up to €200,000 for those who open a new business and employ at least two Gozitan employees.

During the breakfast, businessmen raised their concerns on issues affecting Gozo and put forward suggestions.

A representative of the Gozo Business Chamber said that the Gozitan community wanted to gain more benefits from certain growing industries and services in Malta, including the successful cruise liner business.

Another businessman mentioned the need for specific development policies for Gozo, particularly to incentivise the development of agri-tourism developments.