Beyond COLA: How did workers benefit from Budget 2022?

That Budget 2022 is very generous for pensioners and those on benefits is self-evident.

However, how did it benefit workers, beyond the usual Cost-of-Living-Allowance increase?

Budget 2022 includes:

  • Better tax refund – rising to between €60 and €140
  • Reduction in the part-time tax rate from 15% to 10%
  • Extension of the lower tax on overtime
  • Wider income thresholds to benefit from the in-work benefit – rising from €35,000 to €50,000 for couples where both parents work, from €26,000 to €35,000 for those couples where one of the parents works, and from €23,000 to €35,000 for single parents
  • Those qualifying for the first time will get at least €200 per year for each child, while all existing rates will increase by €100 per year for each child too
  • The free childcare service will be extended and will also cater for atypical workers, such as shift or night workers
  • The possibility for atypical workers to improve their pension entitlement
  • All workers will get free Public Transport, a benefit of at least €300 

This besides other benefits such as better grants for those changing their cars and incentives meant to help those purchasing properties in UCAs or with traditional Maltese features.

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