Ministry for Science, Innovation and Research proposed
Tax incentives proposed by Momentum for returning Maltese nationals
Malta needs to establish a dedicated Ministry for Science, Innovation and Research as a single political home for science and research, Momentum said on Sunday.
It pointed out that responsibility is currently scattered across other portfolios, accountability is diluted, and serious long-term policy never materialises.
The political party also called for a National Centre exclusively for Research, observing that Malta invests only 0.6% of GDP in research and development, compared to a European average of 3%.
"The brain drain of our young minds has already started, and unless we give a big boost to this area it will continue," it warned.
It also suggested tax incentives for returning Maltese nationals with level 7 and 8 qualifications.
"Momentum in Parliament will push to offer returning Maltese nationals who hold level 7 and 8 qualifications, and who have been abroad for more than five years, a maximum 15% flat income tax rate for their first 10 years back in Malta. This is a significant improvement on the existing scheme, which only kicks in after 10 years working abroad and lasts only 5 years locally. The aim is straightforward: make coming home the obvious choice," it said.
Election candidate Matthew Agius said in a statement on behalf of the party that Malta cannot keep talking about a knowledge economy while sitting at the bottom of Europe for research investment.