Pension reform 'next big priority for government'

Pension reform 'next big priority for government'

The pension reform was government’s “next big priority” after reforms in the energy and health sectors, Prime Minister Joseph Muscat told the new council of the Chamber of Commerce.

In a meeting with the Chamber, Muscat said the government would soon be announcing a number of “interesting proposals” to reform the pension system.

“We are proud to be a pro-business government and the positive economic results we are achieving are not a coincidence but a result of a series of decisions taken. We agree that now is the time to implement a number of measures and very soon we will announce a number of pension proposals,” Muscat said.

He reiterated that his government was against an increase in the N.I. contribution, a proposal repeatedly put forward by the European Commission in its country specific recommendations.

Muscat said Malta wanted to prove itself as a country focused on improvement. 

“There is room for smart growth: we are aware of the limitations of our country and the next big debate is not whether or not to continue developing but how,” he said, making it a point to clarify that he wasn’t referring to construction.

He said there were areas of growth that could be incentivised by the way “we approach things”. Muscat said that while the increases in the labour market and female participation in the workforce were registered, more workers were needed.

The Chamber said that competitiveness should remain the underlying notion in every decision that the Cabinet takes. It urged the government to take heed of its economic vision.

Present for the meeting were deputy prime minister Louis Grech, finance minister Edward Scicluna and parliamentary secretary José Herrera. The meeting continued behind closed doors.