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A new Labour government was renewing its target in its fight against poverty by coming up with a series of policy driven ones, Prime Minister Joseph Muscat said this morning.

Addressing a news conference at Ta Qali during which he launched a series of family-aimed proposals, Dr Muscat said that his government had managed to reduce the number of people living in poverty to 19,000 in the past four years.

Unveiling a series of measures, he said the government would be exempting the elderly from the 15% withholding tax on bank deposits for interests up to €1,000. This, he said, would be increasing disposable income for the elderly.

A Labour government would also completely cut waiting lists for entry into old people's homes.

It would also introduce a new form of children's allowance of €300 to be paid on the birth or adoption of a child. In a symbolic manner, parents would also be given a baby starter kit.

It would also increase the €70 a week allowance to foster families to €100 a week.

For couples who were adopting, the government would provide rebates on travelling expenses and would also give direct assistance of up to €10,000 to mitigate part of the expenses.

In a bid to help families plan for their future, it would also provide parents with a tax credit of up to €2,000 a year to incentivise them to start planning for their unborn children’s pension plan.

A new Labour government would also cater for people who were separated or divorced but still paying a grant to the other party for these not to be taxed as a single person.

The press conference was also addressed by Parliamentary Secretary Justyne Caruana and Minister Michael Farrugia.