Election year budget or not?

Finance Minister John Dalli on Monday 25th November announced the fifth budget of the Nationalist Legislature - an exercise which probably fell short of the expectations of those who were hoping for a typical pre-election budget.

Spearheading the list of measures announced by Minister Dalli was a minor retouch of the income tax ceilings thanks to which, married couples who declare a joint income will benefit from a maximum income tax cut of Lm 187. Taxpayers who compute a separate tax declaration would benefit from a maximum tax reduction of Lm 108.

As expected, the weekly increase to make up for cost of living was Lm 1.75.

Besides the usual yearly increase in the price of cigarettes, Minister Dalli also announced a number of fiscal measures aimed at easing the pressure on certain classes of society and entrepreneurs. Thought has also been spared for the agricultural sector which is undergoing major restructuring.

Once again, MaltaMedia is bringing you highlights from the build-up to the Finance Minister's speech in Parliament as well as reactions from across the country, in the aftermath of Budget Day. The budget speech in its entirity is available online. MaltaMedia's Online Community is discussing this year's budget in the MaltaMedia Forum.