Malta will need another 13,000 foreigners this year if it is to maintain its economic growth, according to the head of JobsPlus Clyde Caruana.
With 55,000 already here, he is well aware that there is a simmering backlash against the huge influx in such a short time. But he is also adamant that there is no other option if the Maltese expect wages to increase, more inwork benefits, higher children’s allowance, or the extension of the child care service, to name but a few things.
“If we want to increase pensions, the money has to come from somewhere and it can only come from higher income from taxes through further economic growth – if we are to avoid increasing the tax rates for some parts of the population, on which there is political consensus,” he warned.
And it is not only the government coffers which are benefiting: “In two years’ time, the third highest source of income for Maltese families will be domestic rental income (after employment and pensions), overtaking income from interest on deposits, he revealed.
“As we speak, 45 per cent of employers have at least one foreign worker.”
Read the full interview: ‘The economy cannot do without foreign workers’