Housing equity sharing scheme to be extended to those aged 25: Robert Abela

Robert Abela said on Sunday that the Housing Authority's equity sharing scheme will be extended to those aged 25, down from 30.

Addressing a crowd at the Freedom Monument in Vittoriosa, the prime minister said the scheme helped people buy a property in partnership with the government.

Currently, only people aged 30 and over are eligible to apply for the equity sharing scheme. The scheme effectively allows people to co-purchase a property worth up to €250,000 with the government, and then buy the government's 50% share within 20 years.  

Abela also promised the launch of several affordable housing projects in the coming days.

The prime minister was drawing parallels between investing funds in weapons and ammunition, which Malta refuses to do, and investing in social justice. 

Earlier this month, Abela insisted Malta will not invest in, or borrow money to buy weapons of war after EU leaders rallied around Ukraine and agreed to boost the bloc's defences at a crisis summit.

EU's leaders have greenlit a plan drawn up by the European Commission that aims to mobilise €800 billion to "re-arm Europe" against the perceived threat from Russia.

Abela's comments were slammed by the Opposition, which insisted there were other ways for a country to invest in defence apart from purchasing weapons and ammunition, such as using EU funds to invest in police, airport security, automated fingerprint identification system, rigid hub inflatable boats, bulletproof vests and control room upgrades. 

Photo: Gareth Degiorgio

On Sunday, Abela recalled that the island's ancestors who achieved Malta's freedom understood that the nation's biggest strength was its neutrality. 

"Our country never had to borrow from a war programme to improve its defence or strengthen its disciplinary corps," he said.

"However, we understand that there are countries across Europe facing their own realities. We respect that just like they respect our reality."

Malta, he added, always offered its support through humanitarian aid and equipment that saved, rather than destroyed victims of war, including providing medical treatment to injured children from Gaza.

"For as long as this movement continues to be trusted [by the electorate], we will not invest money in weapons and ammunition," Abela said.

"We don't distinguish ourselves by participating in war but by helping people," such as providing opportunities to youths who wanted to continue studying, increasing pensions and children's allowance, lowering utility bills, supporting first-time property buyers and helping people become owners of their property, Abela added.