Thanks to Labour’s tax reduction, I’m going to see light again, following the COVID situation.
Self-employed make-up artist Shasha Fabri hailed the Labour Party’s income tax reduction proposal during the second episode of TheDailySpot, TheJournal.mt’s daily analysis of the 2022 electoral campaign.
“I’ve been in this business for more than 25 years, and lately it’s been really hectic, with this COVID situation. I had lots of ups and downs. Thanks to the Labour Government and the tax reduction, I’m gonna see light again. I’m gonna have more income coming in on a regular basis, and obviously a better lifestyle,” she said.
“Being a self-employed make-up artist wasn’t easy, but I’m hoping for a better future,” she said.
The proposal raises the income threshold on which people start to pay tax by €1,700, which is the highest increase ever effected in the minimum income threshold. This will boost the purchasing power of taxpayers by an average of €300.
“Every euro left in the hands of an entrepreneur, is a euro well invested.” – William Wait
TheDailySpot also featured comments by William Wait, a consultant to SMEs with over 30 years’ experience in manufacturing on Labour’s proposal to cut the corporate tax from the current 35% to 25%.
Wait said that every euro left in the hands of an entrepreneur is a euro well invested.
“The entrepreneur is a person who uses his money, and borrows additional money to grow his business. Growing the business means growing the economy, and growing the economy means, more wealth in the hands of people. This then translates into more money in the hands of government.”
“This is a very good initiative as it would mean a maximum of €25,000 left in the bank account of each corporation. The natural way of using that money would be to reinvest in that business, which in turn, grows the economy,” he said.
You can watch the The Daily Spot episode above and follow the latest updates on #Malta22.