Budget 2025: Latest updates and analysis live on MaltaToday
LIVE • Make sure to follow MaltaToday throughout the day for all the latest news, expert commentary, and detailed insights on Budget 2025
It’s Budget day, and MaltaToday will be brining you all the latest updates as they happen live.
Our special coverage will feature a live blog with real-time updates, while economist JP Fabri from Seed Consultancy will provide real-time expert analysis, breaking down the economic implications of the budget.
Our team of journalists will also be on hand to unpack the new measures and explain how they will impact businesses, families, and the wider economy.
Before the Finance Minister Clyde Caruana reads out the Budget in parliament at 6pm, we will also take a look at what some of the country’s top lobby groups and unions would like to see in Budget 2025.
Make sure to follow MaltaToday throughout the day for all the latest news, expert commentary, and detailed insights on Budget 2025.
MaltaToday will also be publishing a special Budget print edition on Tuesday, and an extensive Budget supplement on Sunday 3 November.
Follow us on Instagram, Twitter and Facebook to stay updated on everything Budget 2025.
Supplementary pensions
The Insurance Association Malta and the Malta Chamber were among those to voice support for introducing mandatory workplace pensions, with an opt-out option, as the Chamber proposed tax incentives for employers who support such schemes.
Karl AzzopardiMandatory union membership
In the days leading up to Budget Day, the General Workers’ Union (GWU) proposed mandatory union membership to protect workers' rights. While employer organisations opposed this due to concerns over freedom of association, UĦM suggests it could be applied to low-income workers or in workplaces where a union has recognition.
Karl AzzopardiRetirement and pension reforms
Social partners wish to see changes in the current pension system to account for shifting demographics, among other factors.
The Malta Employers' Association suggests increasing the effective retirement age, offering tax-free pensions for those still working, and discouraging early retirement. The Malta Chamber and UĦM also support incentivising supplementary pensions and tax adjustments for working spouses.
Karl AzzopardiPublic sector efficiency
Concerns over the efficiency and size of the public sector workforce are shared by a number of social partners. The Malta Chamber and Malta Employer's Association propose rationalising current public sector roles, implementing performance metrics, and adjusting public sector conditions, such as reducing half-day schedules, to make the private sector more competitive.
A new economic model
A number of social partners, including the Malta Chamber and the Malta Employers' Association (MEA), are once again hoping for an overhaul of Malta’s economic model. Their pre-budget documents point toward a "well-being economy" less dependent on construction and population growth, focusing on sustainable, high-value industries to improve quality of life.
Karl AzzopardiIn recent weeks, MaltaToday journalist Matthew Farrugia has compiled the concerns and priorities expressed by various social partners regarding specific sectors that they believe should be addressed in the Budget.
Karl AzzopardiBudget Day Timeline
2pm: Finance Minister Clyde Caruana holds press briefing with media
4:30pm - The Minister leaves the Ministry and walks to the Grand Masters Palace to present the Budget to the President of the Republic Myriam Spiteri Debono
5:30pm – The Minister leaves the Grand Masters Palace and walks to Parliament
6:30pm – The Minister starts his speech in parliament
Karl Azzopardi‘Partisan government propaganda’ – Nationalist Party
Meanwhile, the Nationalist Party wrote to the Broadcasting Authority over what it described as a “partisan government propaganda spot” aired on TVM.
“Not only did the spot include partisan content, but it also featured Prime Minister Robert Abela, creating political imbalance on the eve of the budget,” the PN said on Monday.
The spot featuring the Prime Minister was broadcast several times on TVM, including during and after the news. The PN said according to the law, no political propaganda of this nature can be broadcast in this manner unless it forms part of a schedule authorised by the BA. It said such spots are illegal.
"Under instructions from Opposition Leader Bernard Grech, the PN has warned that if this broadcast – which causes prejudice against the Opposition – is not stopped immediately and no action is taken by the BA by Monday, the Opposition will have no choice but to seek further legal action to halt this blatant abuse,” the PN said, calling “effective redress”.
Karl Azzopardi'A Country of Quality'
On Sunday evening, Prime Minister Robert Abela announced the theme for this year’s Budget will be ‘A Country of Quality’ (Pajjiż ta’ Kwalità).
He said Budget 2025 will kick off a process to take the country “to the next level”.
“We will prioritise quality over quantity when tackling challenges in the labour market, mobility on our roads, mental health, tourism and development,” he said.
The budget theme was unveiled on Sunday evening with an advert blitz on TVM, social media and also billboards.
Karl AzzopardiReal-time expert analysis
JP Fabri from Seed Consultancy will be our resident economist throughout Finance Minister Clyde Caruana’s speech later today, breaking down the economic implications of the budget.
Karl AzzopardiIt’s Budget day, and we are here to break it down for you
Good morning, it’s Budget day, and MaltaToday will be providing live updates, expert analysis, and comprehensive coverage of all the key highlights, financial proposals, and their potential impact on the country's economy, businesses, and citizens.
Karl Azzopardi