The next Budget would seek to give a boost to the most vulnerable in society, Finance Minister Edward Scicluna said this evening.
Such measures, he said, were in line with other measures introduced by this government in the last three years that led to the first decline in poverty in years.
Prof Scicluna was speaking during the latest in the public consultation meetings called Gvern Li Jisma.
“Our aim is to reduce poverty and we are a workers’ party. Rest assured that by the end of this legislature the situation will improve further,” he said.
The Finance Minister said that this government had managed to change direction in the sense that people were no longer expecting a windfall of measures on the eve of a general election after four years of austerity.
“We are being generous but in a controlled manner, as part of a long-term plan,” he said.
Prof. Scicluna remarked that the PL’s “road map” was drafted on the strength of the feedback given during their time in Opposition by social partners and the civil society.
He said that measures like the stamp duty exemption for first-time property buyers and free childcare facilities cost millions, but the country got much more in return.
The debate also touched on the Brexit debate, with one of those present lamenting that the low exchange rate mean that his service pension this month went down by €80.
Asked if the government was planning to give compensation, the minister said that certain measures like introducing a dual exchange rate was no longer possible due to EU regulations. However, he said that priority would be given to support those companies exposed to layoffs.
As for Malta’s role during the EU Presidency, the Finance Minister did not mince his words. “You cannot have the cake and eat it. If the UK does not want migration they cannot expect to keep the present opportunities which freedom of movement of persons brings with it," he said.
“Our aim during the presidency is to give the best deal to the UK while safeguarding the EU’s interests” he added. On the other hand, Prof. Scicluna cautioned against rushing the UK into starting Brexit talks.
Commenting on the positive economic outlook given by credit rating agency Standard and Poor's, he said that this was the result of Malta's open-book policy, whereby it was collaborating and stating things as they were including areas where there was room for improvement.