PN proposes keeping existing COLA mechanism in pre-budget document

The Nationalist Party has launched its pre-budget document ahead next Monday’s Budget 2023, with proposals ranging from cost of living, the environment, and justice.

During the launch, the party’s finance spokesperson Jerome Caruana Cilia said that the overarching aim of the proposals is to “reinstate integrity, but also have a sense of confidence”.

He was joined by party leader Bernard Grech at the press conference for the launch.

Among the proposals is to keep the existing COLA (cost-of-living adjustment) mechanism for the coming year, with no ad-hoc changes. “We are insisting that government should carry out serious public consultation and detailed studies [on the COLA],” Grech said.

The pre-budget document was drafted across six pillars: cost of living assistance, business development and growth, a better health service, supporting your goals and ambitions, the environment, and justice and good governance.

Caruana Cilia commented that government should invest more in Malta’s supply of teachers and better strengthen the sector’s retainment rate.

“In the past 10 years, the sector saw a turnover of 119%. Only 15% of educators feel that their profession is respected,” he said.

He added that stipends for students reading a course in teaching should be increased by 25% to make the career more attractive.

Caruana Cilia recalled the PN’s election proposal to create a benchmarked ecosystem based on ESG (environmental, social, governance) goals. He said this was crucial, and that the PN is ready to collaborate with stakeholders and government to make this a reality.

With regards to the justice system, Caruana Cilia said that government should work to decrease bureaucracy in the law courts to speed up court procedures for judges and magistrates.

The Budget 2023 is set to be announced next Monday by Finance Minister Clyde Caruana.