Finance Minister Tonio Fenech this evening announced an income tax cut for families where both parents are in employment and the children are still at school.
The income tax cut applies where children are up to 21 years old and are still at school. Where the children no longer go to school, the tax cuts apply for parents whose children are up to 18 years old. The tax cuts will vary according to the parents' income, but will range from €150 to €840. The cuts also apply to separated and widowed parents.
Other measures include:
An increase in maternity leave by two weeks next year and another two weeks the following year, with the government paying up to €160 per week.
An increase in children's allowance up to €100.
A cost of living increase of €4.66. Increase will be given in full to pensioners.
A new extension of the car scrappage scheme.
15.2% tax rebate on purchase of fitness equipment for home use.
Plans for the creation of a Sports School.
A grant of €300 to persons aged over 80 living alone or with their family.(There are some 12,000 such people)
'Amnesty' on payment of VAT arrears which will see a reduction of penalties.
Removal of the television licence.
An increased in Vehicle Registration Tax on the importation of vehicles with emission standards of Euro I-II or III
An increase of 5.8% in excise duties on each packet of 20 cigarettes. Excise duty on other tobacco products to ise by 8.5%.
A €5 tax increase per tonne of fuel used for bunkering of ships outside Maltese waters.
A €3 per tonne increase in import duty on cement.
An increase in state assistance to parents of children in independent schools.
Greater assistance for investment by independent schools.
Full subsisidy of LSA costs for parents of children in independent schools.
€14.2m allocation for industry and investment promotion.
€30m allocation for BioMalta campus.
€1.6m on research and innovation .
An extension of the MicroInvest scheme for SMEs.
New scheme for micro-industries providing government guarantee of up to 90% on borrowing for business start-ups or investment.
An allocation of €20m for Air Malta's restructuring.
Assistance for the building of a motorsports track.
Funds for the relocation of the Museum of Fine Arts to the Auberge d'Italie.
€100 allowance for children attending cultural activities.
Extension of tax credits for artists opening studios.
Resumption of the grants scheme for solar heaters.
Tax credits for rehabilitation works on Grade 1 or Grade II buildings in urban conservation areas.
Persons with dability will be allowed to keep their pension, even if their employment yields more than the minimum wage.