These are brief one-line summaries of some of the key measures announced by the Finance Minister during this evening's Budget 2018 speech.
- Budget 2018 includes no new taxes or other revenue-raising measures
- Workers will get an extra day of vacation leave and a wage increase of €1.75 per week
- Minimum wage earners will see their wage rise by €3 a week
- Tax refunds of between €40 and €64 will be issued to all next year, but tax brackets will not change
- All pensioners will get a €2 per week raise, with their non-taxable tax ceiling rising to €13,200
- Increase in non-VAT threshold for the self-employed to €20,000
- A White Paper on rents will propose that all rental agreements must be registered
- The first-time property buyers’ scheme will be retained and a new scheme for people selling their first home to buy a second will be launched
- Improved financial assistance for adoptive parents, orphans and widows
- Free one-year bus pass for all those aged between 16 and 20
- Incentives to buy bicycles and motorbikes will be increased
- A new electricity distribution centre will be built at Ricasoli
- Free school transport for all school children to be introduced from next scholastic year
- Electric, hybrid and similar vehicles will be exempt from registration tax
- Matsec and Sec exam fees will be halved next year and removed entirely the year after that
- Littering will be subject to stricter fines and law enforcement
Read the full Budget 2018 speech in the PDF link below.
What did you make of Budget 2018? Let us know on mynews@timesofmalta.com or by using the hashtag #MaltaBudget2018
Edward Scicluna gives this year's Budget speech. Photo: Jonathan Borg
Attached files