Budget 2024

Budget 2024Stories

How will the Budget 2024 affect your income?

A look at how the Budget 2024 measures affect the income of 8 different types of households. The impact ranges between €1,862 for a two-person household to €3,132 for a four-person household. The impact of Budget 2024 on people’s income can be summarised in three key points: The first is a rise in wages, either through the cost-of-living-adjustment (COLA) or the minimum wage, and in a main income benefit, such as a pension or carer’s allowance. The...
Budget 2024Stories

Budget 2024: what’s in it for the middle class?

It is unfair to say that Budget 2024 does not benefit middle-class families. In fact, most of these families will be better off by close to €1,000 or more, which is which is a meaningful financial boost. Some in the media have tried to downplay the benefits of Budget 2024, arguing that it did not have any measures benefitting the middle class. Their claim is contradicted by the facts. If truth be told, the Budget included a number of measures that will make a real...
Budget 2024Voices

A Budget for a more inclusive society

From a disabled person’s perspective, the 2024 Budget is more than just numbers and policies; it is a testament to the country’s social conscience. The 2024 Budget is not only a roadmap for further prosperity but also a beacon of hope for a more inclusive future. As a disabled young woman, I can’t help but applaud the noteworthy initiatives for people with disabilities outlined in the Budget Speech. These...
Budget 2024Stories

“A social Budget to the core”

Economist JP Fabri tells The Journal that this Budget, a social one at heart, has provided a continuity exercise with the extension of numerous schemes and incentives. It continues to aim for the stabilisation of economic activity and the support of domestic demand. The main challenge is how to address the longer-term vision of enhancing productivity and ensuring a competitive Malta. “Social to the core” is how JP Fabri, an economist and founding partner at Seed – an international advisory firm with expertise in applied economics, regulatory processes, tax, and corporate structuring – describes the Budget for 2024, presented by Finance Minister...
Budget 2024Stories

Strong consumer spending driving growth

Malta’s current economic system is generating a certain amount of revenue, which in turn fuels growth. An alternative to it would need to ensure that the State continues to maintain the same revenue levels. If that is no longer the case, what would the way forward be? Increasing the country’s debt? Increasing taxation? Cutting back benefits and essential services? Why is the smallest economy in the Eurozone able to present a Budget that further invests in people without raising taxes or cutting essential services, while much larger European economies are tightening the belt? Germany, for instance, will reduce spending in all...
Budget 2024Stories

Continuity and inclusivity

The successful implementation of Budget 2024 will lay the groundwork for a Budget 2025 that, in a year’s time, continues building on Malta's progress in achieving its financial, economic, and social goals. Continuity is the hallmark of the 2024 Budget. It builds on previous budgets to shield the economy from global headwinds and promote further growth, creating more wealth. Previous budgets introduced measures such as the additional cost-of-living-adjustment (COLA)...
Budget 2024Voices

Boosting disposable income

Yesterday's Budget acknowledges the challenges posed by global economic uncertainty, inflation, and the rising cost of living, particularly impacting the working class. Government is committed to supporting the spending power of our families. That is the message that resonates loud out of the Budget for 2024, presented yesterday night; a Budget that intends to tangibly improve the purchasing power of the most vulnerable segments of...
Budget 2024Stories

Malta Ġusta: The top 10 measures

The Budget 2024 unveiled yesterday under the theme ‘Malta Ġusta’ (A Fair Malta) has two main objectives. On the one hand, it aims to help counter the present challenges of families and businesses. On the other, the Budget highlights measures to ensure that our country will be able to seize the opportunities of the future and build a new prosperity. The Budget 2024 unveiled yesterday under the theme ‘Malta Ġusta’ (A Fair Malta) has two main objectives. On the one hand, it aims to help counter the present challenges of families and businesses. On the other, the Budget highlights measures to ensure that our country...

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