Finance Minister Clyde Caruana unveiled the government's budget for 2023 on Monday night. 

A pledge to invest €600 million to cushion increases in energy and cereal prices dominated the headline measures, which were mostly focused on low-income earners, pensioners and workers battling to keep up with the rising cost of living. 

Here are the key budget 2023 measures, broken down by theme: 

Economy 

• New one-stop-shop to help start-ups establish themselves in Malta
• A new business incubation centre 
• A €40 million fund for cash grants for small and medium businesses
• Studies for the setting up of a venture capital fund
• Rent subsidies for businesses
• Social enterprises will be eligible for a tax credit of up to €70,000 over three years
• Laws governing residency programmes to be reviewed and updated

Workers & Parents

• This year’s Cost of Living Adjustment (COLA) clocks in at €9.90 per week for employees, or €514.80 over a year
• Public sector workers will get a top-up of around €3.50 a week
• People on social benefits will also receive the cost-of-living adjustment
• 80,000 low-income earners to receive cheques to compensate for rising prices. The average grant will be €300
• Annual tax refund to continue, with refunds ranging from €60 to €140
• Children’s allowance to be increased by €90
• Tax-rebate for parents who send their children to sports, arts or cultural activities increases from €100 to €300
• Police and army officers to get 23% pension increase if they work four years after the 25-year retirement period

Property

• A €10,000 grant for all first-time property buyers, payable over 10 years
• Interest-free loans on 10% down payment to continue, with the maximum property value raised to €225,000
• Previous property schemes, including tax breaks for buying old properties, and the first- and second-time buyer schemes to be extended

Transport 

• Further electrification of bus fleet
• Discussions on limiting the use of certain service vehicles during morning rush hour
• Financial incentives of up to €12,000 for those scrapping a vehicle and buying an electric car
• Electric and plug-in hybrid cars to be exempt from registration tax. They will also be exempt from license fees for the first five years
• A maximum grant of €900 for the installation of PV panels on coaches and minibuses

Pensions and the elderly

• 100,000 pensioners to receive an extra €650 next year, amounting to €12.50 weekly
• Widows and widowers to benefit from an additional increase reaching a maximum of €3.54 weekly
• The taxable ceiling on pensions is being raised to €14,968, up from €14,318
• Service pensions to be increased by €200
• Pensioners who have not made all their social security contributions will benefit from a payment ranging from €450 to €550
• A €1.6 million investment in a CT scanner and ultrasound machine at St Vincent de Paul
• Tax breaks for pensioners who opt to continue working

Education 

• Stipend increase based on the cost-of-living adjustment
• Works to be completed on Ħal Għaxaq, Msida and Rabat schools, as well as on a new sports complex for the Santa Lucija school
• Free fruit and vegetables to be distributed in primary schools
• Year seven students to receive a free laptop
• Scholarships and tax credits for those wishing to continue their studies to be strengthened 
• Works on new ITS campus at Smart City to begin
• Talks to begin with educators on new sectoral agreement with educators 

Energy 

• An estimated €600 million subsidy to keep energy and grain prices stable 
• Further investment in Enemalta distribution network
• Incentives for the installation of PV panels and heat pumps
• Charging points for electric cars to increase from 340 to 1,200 by 2024

Environment 

• €700 million to be spent over seven years to implement the government’s greening projects
• Consultation process for offshore wind farm
• Multi-Material Recovery Facility in Ħal Far to become operational 
• €50 million project for organic processing plant
• New gate fees to be introduced to help reduce the amount of waste ending up in landfills 

Health 

• HPV vaccine for boys born after the year 2000
• Medicines for people suffering from multiple sclerosis to be given for free
• People suspected  to be suffering from or diagnosed with cancer to receive necessary treatment within 12 weeks
• Chemotherapy pumps for cancer patients to use at home
• Oncology clinic within primary healthcare system
• Long-term projects include new blood bank, a new outpatient’s centre at Mater Dei

Industry & Infrastructure 

• New plans for Msida creek project
• Over the next three years, other major projects such as the Imrieħel Underpass and the airport intersection project will be continued
• Dredging works in Grand Harbour to improve port infrastructure
• Studies on land reclamation

Disabilities 

• Grant for parents who opt out of working to take care of a disabled child will increase to €4,500 yearly, up from €500
• People aged between 18 and 30 who spent time out of work due to mental health issues will be given up to two years of credits to cover lost social security contributions
• Parents of a disabled child to receive €200 tax credit
• Subsidies for the purchase of vehicles adapted for persons with a disability 
• Means testing for social housing will no longer include income government allowances

Arts & Culture 

• Authors to benefit from reduced tax rate of 7.5%  on book sales and royalties
• Works on crafts village in Ta’Qali to continue

Tourism & Gozo 

• An incentive scheme to encourage long stays in Gozo
• Foundation for Tourism Zones to be transformed into agency
• Gozo to receive €60 million for sustainable urban development