A new Labour government will ensure the National Development Bank placed enough funds at the disposal of commercial banks to help businesses, Prime Minister Joseph Muscat said this morning.

Addressing a news conference during which he launched his party's proposals for businesses, flanked by ministers Chris Cardona and Manuel Mallia, Dr Muscat said his party was proud to be a pro-business government and it would remain so.

He said that the main issue businesses were facing was a lack of access to credit because of international pressures.

The government's initiative with the National Development Bank would be to ensure there were funds at the disposal of businesses.

Dr Muscat said a new Labour government would also amend the law on rents which was unfair against businesses. It would come up with a balanced reform for everyone to get what they deserved.

On bureaucracy, he said that great strides forward had already been made and more would continue to be made. A specific task force had been set up to reduce bureaucracy and service agreements were drawn up with all government department and entities to reduce waiting times. Malta's standing in the ease of doing business had already improved and the government was adamant to continue improving it.

The Labour government had also eliminated the requirement of 30,000 trading licences. Some businesses had saved up to €1,000 because of this.

He also mentioned the reform which saw the Planning Authority being separated from the Environment Authority and said that through this, his government had introduced the concept where the PA would pay fines if a permit was not issued in time. This, he said, was an unprecedented measure.

The press conference is still underway.