Shop owners were feeling a drop in demand due to the announced water and electricity rates. They also had additional business related expenses as a result of budget measures, the Labour Party’s spokesman for the economy and the self-employed said.

Gavin Gulia said in a statement that the government was not doing anything to rise consumer demand and help small business sell their products. So much so that shop owners and businesses were constrained to try to help themselves by coming up with sales well before the sales period.

This situation was without precedent and a clear sign that consumption was very low. Dr Gulia said that the few positive incentives and measures announced to mitigate compliance costs and reduce bureaucracy had not yet been introduced.