Prime Minister Joseph Muscat said today a future Labour government will cut taxes and improve pensions by €8 a week.
Addressing a press conference, Dr Muscat said this is aimed to increase the people's disposable income and act as a stimulus to business.
"We will give the people part of the surplus we have managed to achieve," he said, adding that the system would be in the form of gradual tax refunds for 190,000 workers earning up to €60,000, with those earning the least getting the highest refund. The refunds will range between €200 and €340.
Tax on part-time work will be reduced from 15 per cent to 10 per cent, and this will also apply to the self-employed.
Dr Muscat said students who obtain a masters degree will be exempt from income tax for a year. The exemption goes up to two years for those who obtain a PhD.
He said pensions would be gradually raised to €8 per week.
Dr Muscat said a Labour government would resurface all of Malta's roads. The project will cost €700 million funded by EU and national funds including funds from the Citizenship by Investment programme.
Dr Muscat also announced that public holidays which fall on weekends will again be given as public holidays.
from The Malta Independent http://ift.tt/2pCGyha
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