GRTU budget proposals call for ‘fiscal stability’

The GRTU has said it expected Budget 2011 to prioritise micro and small enterprises in all sectors.

“GDP is now growing again as a result of the growth in the economic performance of financial institutions and specialised personal services like e-gaming and the professional services to enterprise, especially consultants, auditors and accountants,” the GRTU said.

Micro and small enterprises that represent 99% of the more than 3,400 enterprises registered in Malta.

GRTU wants an extended loan guarantee scheme to cover an extensive list of investments that will enable small firms re-engineer themselves for the new knowledge based economy.

“The emphasis of GRTU's proposal is - money is available for productive work and for reinvestment and new investment on a return basis - you have it when you need it and at an advantageous fiscal and financial terms. But the money must be returned once the investment is generating the planned income and available only to those that the financial institutions certify as creditworthy,” the GRTU said.

The GRTU said it expects Budget 2011 to finally approve the package of proposals advocated by GRTU to create more environmentally friendly economic activities that make our Localities grow and become really sustainable. “Year in, year out GRTU has been making proposals to assist the development of economic activities in the localities including back office work and more bed only tourist facilities.  Now government must produce the right incentives packaged as proposed by GRTU.”