Prime Minister Lawrence Gonzi, in his capacity of Finance Minister, will announce the second budget of this legislature in Parliament this evening.

It will be the first budget since Dr Gonzi became Prime Minister last March.

The budget is expected to focus on deficit reduction, measures to counter the recent increase in the price of oil and ways to improve industrial competitiveness and the environment.

A white paper on reform of the pensions system is expected to be published with the budget.

An extensive report of the budget speech as well as initial reactions will be carried in The Times tomorrow.

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