The government will launch a national employment policy for the next nine years just a week before Budget 2022, Finance Minister Clyde Caruana said on Wednesday. 

“We want to ensure that we not only strengthen our workforce but that people also have a good quality of life," he told party supporters at the end of a pre-budget consultation meeting themed X’Pajjiż Tixtieq Tħalli lil uliedek?

This meant the government needed to ensure the workforce was provided with high-quality job opportunities, he added.

Caruana said that various administrations had invested in workers throughout the past decades: “workers, along with those who invested in it, built this country. They built the country from scratch and we nowadays enjoy a particular level of quality of life... we worked for that.”

Caruana had hinted at a change in employment policy last year during an interview with Times of Malta. 

As former head of the state employment agency Jobsplus, Caruana was involved in the government’s plan to import foreign labour to sustain economic growth.

During his address on Wednesday, Caruana made little reference to foreign workers. Instead, he focused on education.

“We need to give more importance to our education. Nowadays it’s not enough to be able to read and write. People also need to have computer skills. The world is changing, and we must change too.”

He said that like many others while growing up he had been told to study hard to have a good life. It was not acceptable that after years of schooling, some students still did not achieve enough O’levels to continue their studies, he said. 

Fewer hours, higher pay

Caruana referred to Holland, where he said people spent more time studying,  work fewer hours and received a higher wage.

“While in Malta, a person spends around 16 years studying, in Holland people spend an extra three years investing in their education,” he said. 

“Because of this, they manage to get a better job and work for 30 hours. Imagine, two hours less every day, and getting a wage that is twice as much as that paid to workers in Malta.”

Re-issue of savings bonds for 62+

Caruana also announced the re-issuing of government saving bonds for those aged over 62 years.

The bonds will be issued for the fifth consecutive year.

Pensioners will be able to apply for a saving bond as of Thursday, and they will have until October 4 to do so. 

People can invest a minimum of €500 and up to €10,000.

The bond targets those who rely on a retirement pension and some additional income from past savings.

Caruana said that priority will be given to pensioners who never had the chance to benefit or invest in a bond before.

“Anyone who has never invested in a government bond can go to their local banks to apply before October 4. I am certain no one will wait until that date to apply.”

Caruana said further incentives to ensure elderly people remained active will be announced next month. 

“This country needs everyone, and we want our elderly to remain active and continue working.”