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The pre-budget 2007 document was launched on Saturday by the PrimeMinister Lawrence Gonzi and Parliamentary Secretary Tonio Fenech. The document opened the budget discussion for next year. The document focuses on incentives to increase the economy and on measures that could be taken to decrease taxation without threatening the country’s finances.
Two months of intensive and extensive consultation are expected to follow this launch. This is the second year that the Government is publishing a pre-budget document.
“Securing our Future” is the theme of this year’s Pre-Budget Document. Prime Minister Gonzi gave an overview of the main objective of this year’s Pre-Budget Document, a document based upon Government’s commitment towards leaving no stone unturned for a secure future for all Maltese citizens.
“My Government is proposing a programme of action intended to lead our country into the next social economic phase of development, while drawing upon our significant attainments as a result of our vision, creativity, determination and continuous efforts. The Budget 2007 will be another step towards a secure future, within the context of an economy that is demonstrating positive indications of gradual recovery” stated Dr Gonzi. This document ties in closely with the three strategic pillars established by Government namely economic development and creation of work, top quality education and protection of the environment.
This year’s Pre-Budget Document, “Securing Our Future” initiates a debate about a number of specific themes in the context of these three pillars. The selected themes have been studied thoroughly during the past months with the aim of not only sustaining the momentum and progress already achieved over the past years, but more so to launch new ideas and initiatives. In this regard, Government is also publishing the National Strategy for Research and Innovation and a Draft National Policy on Alternative Energy.
In order to secure a solid future for our country, this Document presents new initiatives founded on the principle of sustainability; a sustainable system of taxation that ensure secure fiscal management and efficient public systems; a sustainable environment and energy strategy; the appropriate environment for industry to function well, develop and invest in innovation in response to the competition arising from globalization.
This year’s document encompasses the following themes:
• A more inclusive and participatory society;
• A socio-economic strategy for Gozo;
• Incentivising work and growth – a review of the fiscal regime;
• Sustaining industry and tourism
• Sustaining growth through Research and innovation
• Ensuring a sustainable environmental future
• Mainstreaming the EU dimension to the 2007 budget
Parliamentary Secretary Tonio Fenech, who led the team that formulated the document, gave an overview on the general financial and economic situation of the country as it stands at present. Tonio Fenech stated that the country will once again attain the targets it set for itself in the budget presented last November in terms of deficit. He also maintained that the targets set for the general economic activity in the country will also be met, indicating that the encouraging growth achieved last year may be sustained, despite the hike in oil prices and the decrease in the tourism sector registered in the first half of this year. Parliamentary Secretary Fenech also spoke about the process entertained in the drawing up of the document, which reflects the responsibility with which Government formulates policy on the basis of factual analysis and the seriousness with which such policy is implemented.
This is the second consecutive year in which the Budget is being developed through an open method of consultation on the basis of a document which looks back upon the country’s evolvement over the past twelve months while presenting the choices Government is facing for the 2007 Budget.
The Prime Minister emphasized that through this year’s Pre-Budget Document “we are submitting for our collective consideration a programme of action that would consolidate our collective well-being and secure a better future for our people. Faced by the uncertainties around us, and which have an effect on our country, Government is determined to do all that is possible to provide for our country security and peace of mind. This national project depends on each person’s contribution”.
In the Prime Minister’s own words, the document looks towards the future with the courage of those who recognise the opportunities that our country may create for itself through vision, ingenuity, diligence and hard work. Government is proposing initiatives that would stimulate economic growth, initiatives that would improve the business environment in the country and that would therefore facilitate enterprise and attract local and foreign direct investment in key sectors within our economy. “We are promoting creativity and excellence in the strong belief that the resourcefulness of our people will once more grasp the significant opportunities being presented by an increasingly open and globalised world economy. We are outlining a programme for increased internal social and economic cohesion in the strong belief that the people of this country have a right to balanced development and equal access to its opportunities and benefits. Most importantly we are submitting a programme of action that continues to hold people as the real focus of our attention. We are laying out a strategy that would translate into a society whereby each one of us would continue to have an opportunity for personal development and achievement, a society that encourages participation, growth and inclusion. We are securing our future,” concluded the Prime Minister.
The public consultation period related to this Document ends on the 30 September 2006. Copies of the document are available from the Department of Information. All documents are also available on the same department’s website www.doi.gov.mt
See also:
Pre-budget document to propose taxation measures
by MaltaMedia News - Aug 4, 2006
© Copyright 2006 - MaltaMedia Online Network
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