PN Leader, developers discuss infrastructure, public transport and the environment
Opposition Leader Simon Busuttil yesterday outlined a number of proposals during a meeting with the Malta Developers Association this morning, highlighting infrastructure, public transport, and the environment.
Dr Busuttil spoke about the introduction of a 10 year master plan in improving national infrastructure. The plan, which would not be subject to annual budgets, would be the largest infrastructural investment ever, according to the PN Leader. He said that the plan, which would focus from pavements to roads, would be explained in depth over the coming weeks.
The construction of a light railway or tram system was also high on the PN’s agenda, with Dr Busuttil adding that this state of the art and modern public transportation system was statistically proven to be highly efficient and sees a significant shift from private transport users to public transport users.
Dr Busuttil said that the project would be of benefit to the entire nation and would extend to both Malta and Gozo. He further added that the construction of the Gozo-Malta tunnel should be explored if it were found to be geologically feasible.
Dr Busuttil also spoke of the introduction of incentives in order to allow urban regeneration to flourish. He said he would introduce reductions in Capital Gains Tax in investments in designated areas such as Hamrun, Marsa and Qawra which needed regeneration.
With regards to the environment, Dr Busuttil also spoke of further reductions in the Capital Gains Tax for persons whose residences had high energy efficiency. These fiscal incentives were also extended to businesses, namely Construction companies, who upgrade their environmental standards to the highest quality.
Malta Developers Association chairman Sandro Chetcuti agreed that infrastructure and the environment are the backbone of the economy and that investment is essential in sustaining the booming economy.
With regards to the environment Sandro Chetcuti spoke of the importance of NGOs joining the conversation. However, he stressed that awareness is simply not enough, and solutions need to be found with this growing problem.
The association, which works closely with members of the industry ensured that developers would not suffer. Mr Chetcuti also stressed the importance of long-term investment outside of the property market. He mentioned the introduction of regulation in the real estate market which would see the industry have knowledgeable capable workers.
Mr Chetcuti said he believed that public land should no longer be sold below market value since the need to kick start the industry is no longer needed due to the current demand in the property.