The 2014 Budget will provide no surprises and will reflect the Labour Party’s manifesto, Prime Minister Joseph Muscat said yesterday.
The pre-budget document is being finalised and will be published soon, Dr Muscat said during a visit to Ascent Software in Luqa.
“My view is that this document should be concise as it is up to the social partners to come up with recommendations and feedback, and not the other way round,” he said.
Asked about the time frame for next year’s Budget, the Prime Minister said that with the Fiscal Compact Treaty coming into force there are now deadlines by which the Government has to abide.
Under this treaty, EU member states must wait for the Commission’s green light before presenting their budgets. The aim is to ensure every country remains within a set of financial parameters, including the three per cent debt threshold.
The Prime Minister said the 2014 Budget will be presented between mid-October andmid-November.
Dr Muscat said the Government is choosing which aspects of its manifesto will be implemented first and then to allocate funds accordingly.
Meanwhile, he was probed about the “misunderstanding” that led Home Affairs Minister Manuel Mallia to omit his 2012 income – amounting to €137,325 – from his ministerial declaration of assets.
Dr Muscat repeatedly replied that Dr Mallia had not forgotten to declare any Swiss bank accounts, with reference to former transport minister Austin Gatt earlier this year.
He was speaking after inaugurating the new Ascent Software Premises, which will be able to house an additional 30 software developers.
Ascent Software, which caters mainly for foreign markets, was set up 10 years ago but experienced rapid growth and currently employs 50 ICT specialists, the majority of whom are Maltese.
Vodafone UK, the US Reserve Army and Pfizer are some of the most renowned clients of the company.
The Prime Minister said home-grown companies should be given the same red-carpet treatment as foreign investors.
Dr Muscat added that the Government was committed to cut bureaucracy as much as possible, saying that time is the most important commodity in today’s competitive environment.
He said Maltese companies should not aspire to have an edge by lowering wages but rather by providing a high level of expertise.
Joseph Sultana, managing director of Ascent Software, said the company had invested heavily in developing products for a number of sectors including postal, gaming and finance.
He said that Malta will continue to develop as a major tech hub, especially due to the high level of expertise in the local workforce.