Out of recession but not out of the woods – Chamber

The Malta Chamber of Commerce submitted 31 proposals for the 2013 Budget to the finance minister at the last MCESD meeting, which provides sectoral recommendations on energy, public sector bureaucracy, family-friendly measures and a shift to eco-taxation, manufacturing, tourism, construction and real estate, ICT, digital gaming, and yachting.

The Chamber has also made proposals on pensions reform. "The Malta Chamber supports the Minister of Finance in the task ahead in the hope that the set objectives are tackled through the effective and responsible measures that are required. On the contrary, it cannot support any attempt to implement easy solutions which are clearly not in the country's long-term interest," Chamber president Tancred Tabone stated.

 "As a responsible organisation, the Malta Chamber has formulated pre-budget proposals according to a lengthy internal consultation process and in line with the local and international realities we are facing."

The Chamber said it agreed with the Prime Minister's comments that while Malta has emerged from recession, but it was not yet out of the woods.

"We hope that in the forthcoming budget, no unsustainable measures are announced. On the contrary, we expect government to take active measures to bring its financial house in order and to consolidate Malta's competitiveness by taking remedial measures to rectify bottlenecks to growth, and other proactive measures to kick start traditional sectors and other emerging ones."