A range of incentive schemes for industry were announced in the Budget speech this evening.

Finance Minister Tonio Fenech said that the tax credits under the MicroInvest scheme, currently available to companies which employ up to 10 workers, are being extended to those employing up to 30 workers.

There will be an improvement in the High Energy Users Scheme for Gozo in that the threshold will be lowered to enable more companies to become eligible.

The programme known as '€20 million to industry' was being extended to €42 million.

There are also new incentives for start-ups with tax rebates of up to €30,000 on seed capital.

The MicroCredit and MicroGuarantee schemes will be retained.

The rebate given to film production companies will rise from 20 per cent to 23 per cent. It will rise further, to 25 per cent if Malta is specifically mentioned in the production.

There will also be increased financial allocations to help research and innovation projects.

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