Working towards a better tomorrow

If there is one trait which most strongly characterises this Labour administration, it is our ability to overcome all obstacles and turn challenges into opportunities.

The Covid-19 pandemic has stunned Europe and the world, but here in Malta, under the leadership of Prime Minister Robert Abela, we have managed to control the spread of the virus and are now in a strong position to look forward towards a better and brighter tomorrow.

However, this is only possible thanks to all that the Labour Party in government has achieved, not just in these last few months, but over the previous seven years. The unprecedented economic growth that was fostered by multiple Labour administrations has allowed us to announce budget after budget full of measures that reward the hard work and diligence of the Maltese people and promote social justice.

This is no mean feat. Although it has become the norm in recent years, one must remember that such budgets used to be unthought-of in the years before the Labour Party came to power. Now, however, we have become used to a government that gives to its people instead of taking from them, and the ambitious recovery plan that was announced earlier this week as the nation is getting ready to move back to normality is no exception.

This €900 million package has been purposefully designed to target all strata of society, and reward both private individuals, as well as enterprises after months of sacrifice. The measures announced, which include among them a reduction in the price of fuel, as well as the granting of €100 worth of retail vouchers to all individuals over the age of 16, will result in more money in people’s pockets, and will help to cushion the impact which the pandemic has had on all of us.

Moreover, this “budget with a vision”, as the Prime Minister rightly called it, is going to increase consumer confidence, and ensure that the economic wheel starts turning once more, so that the country can get back on its feet as soon as possible.

These last few months have not been easy for anyone. All of us have had to make sacrifices, and we have all suffered the mental, physical, and financial strain that this pandemic has had on us. Now, however, that diligence has been rewarded with this recovery package, because that is what this government does – we recognise, acknowledge and reward hard work and sacrifice so that we can guarantee a better tomorrow for all.

In fact, this is the approach that has been behind our own initiatives within the housing sector itself. The Home Deposit Scheme that we have recently announced, for instance, will be helping those first-time buyers who have worked hard and invested in themselves and in their education, so that they too can be able to purchase a house.

Now, through this recovery package, we are going to be supporting even more individuals in their quest to purchase property, so as to allow more and more Maltese citizens to become homeowners.

Our hugely successful first-time buyers scheme is going to be expanded even further so that now, those individuals who bought a property before the scheme was introduced in 2013 will also become eligible to benefit from it. Through such measures we are going to be incentivising more members of society to invest in property, and will be supporting them in obtaining their future home.

Additionally, in a measure that will cost €32 million and will reach around 10,000 couples, we are also going to be slashing property taxes for both buyers and sellers to further encourage people to get the economy moving once more. From now, sellers will have their tax cut to 5% from 8%, while buyers will only pay 1.5% tax instead of the usual 5%. With such measures, and with this recovery package as a whole, we are giving back to the people, after all the sacrifices of the past few months. We have guaranteed to provide something for everyone, so as to continue fostering and encouraging the fulfilment of this nation’s great potential. This is because this government is one that believes in the Maltese and Gozitan people, and is always ready to provide help and support when times are tough. Together, we have managed to beat the Covid-19 pandemic. Now, together, let us walk forward once more into a better future for all.