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Malta's Budget 2020 for dummies! Here are the top things you need to know
Buckle up, kids!

Jillian Mallia

budget

Not very numbersy? Not sure what people are on about when they talk about the yearly Budget measures revealed by Malta's Finance Minister last night? We got you! Here are just 10 things you need to know ahead of next year.

1. Extra day of leave

For the third consecutive year, an extra day of leave will be given to workers to compensate for public holidays that fall on a weekend. Score! *Books a 2020 holiday*

2. Reduction of tax

The tax refund that was given in the last two years will also be done next year, costing the Government €11.5 million, and over 200,000 workers will be benefitting from this. Yeah bro.

budget

Budget2020 Dikors tal-Bagit document

3. Pensioners

For the fifth year running, pensioners will receive an increase of €7 per week, inclusive of the €3.49 Cost of Living Adjustment. The elderly (75 years and over) will also benefit from free public transport.

4. A sum for newborns

Starting from January, a new benefit will be introduced, giving €300 to parents for every newborn or adoption to help out with the costs. Around 4,000 families will be benefitting from this every year. Hear that? Not only will you have a new bundle of joy, but Government will also give you €300!

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5. Young home-owners

After introducing the Equity Sharing Scheme for people over 40, this year, Government will be introducing another scheme for those aged younger than 40 to be eligible for a home loan without having to pay liquidity. The deposit amount will be paid over 15 years, and the interest will be paid by Government. The first-time buyers scheme will also be carried forward for another year, but this time will cover properties valued at up to 175,000 Euros.

6. Waste management

A Waste to Energy plant is being discussed, as is the permanent closing of the Sant’Antnin plant once this new one is inaugurated.

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7. Electric cars

Those owning electric cars will see an increase in charging points around the islands, as well as new ports being installed so residents can charge their cars with ease. This will also result in the reduction of electricity bills.

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8. Single-use plastics

Single-use plastics “will be banned in Malta” starting with the importation and production of plastic bags, cutlery, straws and plates as from January 2021. The selling of these items will be prohibited come 2022. We love this!

9. Afforestation

Green projects will be introduced, including the rehabilitation of valleys within both urban and rural areas. More maintenance and regeneration of outdoor spots will also be a priority.

10. Ferry landing sites

Being a country literally surrounded by water, it’s only fitting that we use them to our benefit! More ferry landing sites will be introduced in Kottonera, Marsaxlokk, Marsaskala, St Paul’s Bay, St Julian’s and Mellieha among others, to ease crossing between these areas, promoting alternative modes of transport.

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Feel better now? For more information you can read the full Budget 2020 document here.

15th October 2019


Jillian Mallia
Written by
Jillian Mallia
A book lover, writer and globetrotter who loves exploring new places and the local gems that the Maltese Islands have to offer. An avid foodie and arts fanatic, Jillian searches the island and beyond for the perfect settings to write about.

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