Malta’s Budget 2020: How does it affect you?

Malta’s Finance Minister  has outlined the government’s spending plans for the year ahead.

Edward Scicluna delivered his Budget Speech in Parliament in Valletta on Monday night.

But how will it affect you?

Here’s everything you need to know:

 

Wages

  • Cost of living allowance increase of €3.49 per week
  • An extra day of leave
  • Special one off bonus to make up for milk and bread price increases. Single person households will get €15. Others will get €35.#
  • Pensioners will get a rise of €7 per week

Education

  • Maltese language online spell checker will be launched at cost of €8 million
  • One tablet, one child scheme will be extended to cover middle schools
  • Drinking water fountains will be introduced in every school

Transport

  • A new ferry network will include St Paul’s Bay, Marsascala, Marsaxlokk, St Julian’s and Mellieha
  • Gozo Channel’s fourth ferry will be a permanent fixture
  • Cheaper home electricity for electric car owners
  • Existing car scrappage scheme will be extended

Property

  • A new rent law will be introduced next year
  • Low-income earners aged under 40 can qualify for an interest-free loan of up to €17,500.
  • First time buyers scheme will apply on property value of €175,000, an increase from €150,000

Children

  • Parents will receive €300 bonus for every child born or adopted
  • Parents who take care of children with a rare disease will be awarded eight years of National Insurance payments
  • Extension of free school transport for all students.

Gozo

  • Gozo Channel to make fourth ferry permanent
  • €10 million to be spent on Gozo’s roads
  • New tax benefits for businesses setting up in Gozo

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