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AD presents cost of living budget proposals
By MaltaMedia News
Sep 22, 2008 - 9:04:40 AM
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Alternattiva Demokratika (AD) presented its budget proposals for cost of living on Sunday.
"Compensation for such measures to employers can be carried out through fiscal policy as well as through the avoidance of unnecessary non-labour costs such as those related to bureaucracy and communication costs," AD said.
The Green Party said it believes that income tax reform should also benefit low-middle and middle income earners, and should shift towards penalizing environmentally harmful practices rather than work. Further revenue should also be generated from companies making windfall profits such as gaming companies. Meanwhile, AD supports the government's efforts to reduce wasteful public expenditure in order to achieve fiscal stability.
Michael Briguglio added that AD also believes that local produce should be promoted, in an effort to help compensate for the imported segment of inflation. Increased production in products such as foodstuffs (including local organic production), and local markets should receive incentives from the Government.
"AD believes that basic consumption of water and electricity should be subsidized by the Government whilst excessive use and waste should be penalized. Besides, alternative energy and energy saving devices should receive adequate incentives from the State, such as decrease in VAT or income tax rebates. Such rebates can be financed through measures such enforcement fines coming form illegal developments or from a percentage of fuel consumption," added Mr Briguglio.
Prof. Arnold Cassola, AD's Chairperson, said that Malta's inflation rate, 5.4% is higher than both the Euro area average of 3.8% and the EU average of 4.2%. Increases in items such as food and beverages, transport, and restaurants are resulting in increased burdens on middle and low income earners, workers and their families, pensioners and other groups especially since Malta's relatively low wages. "Malta's annual increase in labour costs is currently the second lowest in the EU, rising by a mere 1.8%."
Arnold Cassola also referred to AD’s proposal that the 7300 Euro limit for part time work which is taxed at 15% should rise to 12,000 Euro, and that Public Service pensioners, who do not benefit from this tax benefit, should also benefit.
Arnold Cassola added that AD will be presenting various other budgetary proposals covering various areas, in the coming weeks.
© Copyright 2008 by MaltaMedia.com
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Latest update:
Sep 23, 2008 - 3:47:31 PM CET
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