Malta Budget 2017
Deloitte Malta presents a summary and analysis of the Malta Budget 2017 speech presented to the House of Representatives by the Hon. Prof. Edward Scicluna, Minister of Finance on 17 October 2016.
Policy measures to support a more productive economy
- Pinto Wharf in Grand Harbour to be extended by 15metres to cater for large cruise liners. Deep water quay also being considered for expansion.
- Plans for a new breakwater in Marsamxett.
- Work on €56 million new ITS campus in Smart City to start in the first months of 2017.
- Development of ex-Marsa shipbuilding into a maritime hub to start in 2017. Ablecare Oilfield Services Holding Ltd will invest €55 million over 10 years.
- 40,000 square metre site in Hal-Far to be transformed in free trade and logistics centre with an investment of €80 million.
- New primary schools in St. Paul’s Bay, Marsaskala and Victoria Gozo.
- Development of Crafts Village in Ta’ Qali with a total expenditure of €14 million to start in 2017.
- €50 million investment in social housing over the next 3 years.
- Enhancing Gozo’s digital infrastructure by investing €3.2 million over the next two years to have a fibre optic link between the two islands.
- An extension of the present telecommunications network, via a new submarine cable between Malta and Marseille, to be financed by EU funds.
Disclaimer: This publication reflects high level announcements made in the Budget Speech on 17 October 2016, which are typically implemented through detailed legislative amendments and tax guidelines that have yet to be published. Clients are advised to seek appropriate professional advice following the publication of such detailed amendments or guidelines and prior to implementing any actions based on the information given in this publication.
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