In first election pledge, Labour to give first-time property buyers €10,000

A Labour government would be giving young couples buying their first home €1,000 each year for the first 10 years of their purchase, Prime Minister Robert Abela announced on Sunday evening

Abela announced five electoral proposals while addressing a party press conference at the Rialto in Bormla.

The PM also said a Labour led government would be investing €700 million in new green spaces across the country. Abela said the emphasis will be on village cores.

“We want a green lung in every urban centre in the country. Everyone should have a green space next to where they live,” Abela said.

He said the PL wants to create new parks, with a network of green spaces.

In another proposal, he said tax bands and tax refunds will be widened, leaving an average of €300 in every pocket. The plan he said will amount to €90 million.

In a bid to support businesses, Abela said corporate tax rate will be reduced from 35% to 25% on the first €250,000

On pensions, Abela said the country will be experience the biggest increase in pensions at not less than €15 a week throughout the whole legislature. He said the proposal will amount to a €2,340 increase in pensions.

The proposal will cost €240 million.

He also said elderly persons will be receiving all medicines on the government formulary for free.

Robert Abela said more details on the proposals will be given in the coming days. "We will not promise everything to everyone, but what we will promise we will fulfill."