Heritage Malta's funding 'increased'

The Ministry for Tourism and Culture has denied a media report that funds to Heritage Malta have been reduced by Lm350,000.

The funds in this year's estimates have actually been increased by Lm460,000, the ministry said, adding that the government had also written off Lm99,000 in rents that were owed to it until the end of 2003.

The ministry explained that the initial approved estimates for Heritage Malta, announced in the budget for 2004, were Lm1,190,000. At the beginning of this year the organisation concluded an agreement with the Ministry of Finance to have the vote of Lm1,190,000 reduced to Lm600,000 and in return retain all revenues that it generates, estimated at Lm800,000.

This already resulted in a revenue increase of Lm210,000 as well as an incentive to retain and enhance revenues, the ministry said. The vote in the Consolidated Fund was further increased by another Lm273,000 during the year to bring the total increase to Lm483,000.

The only deduction made by the ministry was of Lm23,000, resulting in a net increase of Lm460,000. This is before taking into consideration the Lm99,000 rents written off and any potential revenue growth, the ministry said.