The Nationalist Party is expected to launch an innovative policy document today proposing specific incentives for merchants and service providers in the retail sector.

Based on the successful micro-invest schemes introduced during its last stint in power, the PN will recommend introducing investment aid schemes for retailors worth €50,000 in tax grants and loan guarantees for every successful applicant. “This is the first time that any political party is targeting the retail sector which has grown significantly under PN administrations and is still going strong.

“Through our new policy, we want to incentivise this sector to invest more in their business and employ more people,” a spokesman said. The investment aid schemes for retailers target those who want to market themselves better through the use of digital marketing or invest in refurbishing their shops and outlets.

The PN’s latest policy document will be launched today

The aid will also be tied to retailers investing in energy-efficient technology in order to lower their utility costs.

“The aid will be given in various forms, including tax credits, grants and long-term guarantees.

“We calculate that up to €50,000 will be available to every successful applicant in the first scheme.

“EU funds will also be tapped in order to incentivise more businesses to make use of the scheme.”

Malta has never had a retail policy catering specifically for the needs of small businesses run mostly by families. According to NSO figures, it is estimated some 6,500 retail outlets across the island sustain some 18,000 families, who either own the businesses or are employed in shops.

The PN’s latest policy document will be launched during the general council held today at its headquarters.

ivan.camilleri@timesofmalta.com