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Malta Gears Up For Budget

MaltaMedia

01 November 2000

This story is reproduced by kind permission of MaltaMedia at http://www.maltamedia.com

Finance Minister John Dalli announced that the government's budget will be presented between the 15th and the 22nd of November, but the date has not yet been set. Mr Dalli said the government would collect Lm15 million (US$30.3 million) more in income tax and Lm5 million (US$10.1 million) in Value Added Tax (VAT) due to greater efficiency in tax collection.

Speaking on cost-reduction measures, Minister Dalli expressed his personal belief that citizens should receive a statement with the price tag on free health and educational services to raise awareness about the fact that no government service comes cost-free even though the citizens do not pay.


The preparations are in full swing as the date of the budget speech draws nearer. Employers and trade unions are already putting forward their proposal through the Malta Council for Economic Development. However the Prime Minister Dr Eddie Fenech Adami was already warned that he could not say that it won't be a tough budget, given the dire situation of public finances.

A few weeks ago Minister Dalli said the government is on target in its deficit-reduction exercise and this should be less than Lm100 (US$220 million). On Sunday he said he would resolve this problem by 2004. Malta is bound to reduce its deficit in order to qualify for European Monetary Union (EMU) once Malta joins the European Union.

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