Minister for Finance Prof Edward Scicluna this afternoon met with MCESD and MEUSEC to highlight the core elements of the reform programme which the Maltese government has to present to the European Commission.
During the meeting, the Minister said the government plans to introduce a voluntary incentivised second pension scheme. He explained that the government should aim to promote both second and third pillar pension schemes.
The Minister said that the scheme will be essentially voluntary, but the government should provide fiscal incentives.
The European Union member states have until 9 April to present their reform programmes. The Minister said that this programme has an element of a consultation process. This programme must first pass through the Parliament and has to be approved by the European Commission.
He mentioned various policies which address the Country's Specific Recommendations, better known as the CSRs.
Prof Scicluna gave an overview of last year's financial performance while referring to 2016 predictions. He said that last year was characterised by strong investment and increased public consumption.
Referring to the distribution of wealth, the Minister said that the problem is not how to distribute it, but to keep a steady increase.
He also said that the government aims to reduce those in risk of poverty by 6,500 till the end of 2020.
from The Malta Independent http://ift.tt/1MPMc17
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