The third Budget in a year and the first Budget which the Labour government can describe as its own, will be presented to Parliament this evening.

The last Budget of the PN administration was presented on November 28 and after it was not approved by Parliament, a repeat performance was given by the present government in April.

In tonight's Budget, Finance Minister Edward Scicluna is expected to announce a reduction of water and electricity tariffs and a reining in of the deficit below 3 per cent of GDP as Malta works to get itself off the EU's Excessive Deficit Procedure as quickly as possible.

The Budget is expected to feature adjustments to vehicle registration tax in line with Labour's pre-election promise.

There will be increases in taxes on alcohol, cigarettes and cement as the government seeks to maintain its revenue despite further cuts in income tax according to the timetable announced in last year's Budget.

The Budget is expected to feature upward adjustments to disability allowances and widowers’ benefits and reductions on taxes for part-time work.

Their will be measures to promote childcare, and female participation in the labour market.

Prof Scicluna is also expected to announce measures to encourage the introduction of voluntary third pillar pensions.

The cost of living wage increase will be of €3.50.

The Sunday Times reported yesterday that Prof Scicluna will also be launching White Papers aimed at tackling the problem of out of stock medicine and local enforcement.

Follow the Budget speech live on timesofmalta.com, including live streaming, at 6.30 p.m.