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€1.50 THURSDAY 26 MARCH 2020 • ISSUE 51 WWW.BUSINESSTODAY.COM.MT MASSIMO COSTA GOVERNMENT'S third coronavirus aid package to help businesses and save jobs was met with a positive re- action from social partners, however concerns have been raised about the lack of assistance being given to a large chunk of private sector industries. Chamber of SMEs CEO Abigail Mamo and PN MP Claudio Grech told BusinessToday that while they welcomed the new measures, the gov- ernment was still not offering equal support to all businesses and employ- ees which were struggling beneath the burden of the economic impact of the coronavirus pandemic. On Tuesday, Prime Minister Robert Abela unveiled new financial aid meas- ures for businesses – the third pack- age in as many weeks – which will see the government finance a full five-day work week, at a minimum of €800 per month, for all workers and self-em- ployed in critical sectors that were dec- imated by the coronavirus measures. ese critical sectors include hotels, restaurants, certain retail outlets, trav- el agencies, transport operators, en- tertainment, barbers, beauticians and hairdressers. However, businesses in other indus- tries will receive considerably less assis- tance – a second tranche of aid will be provided for companies and sectors hit by reduced consumption, which will see the government finance only one day per week in wages, around €147. PAGE 3 PAGE 2 Editorial PAGE 7 NOT ADDRESSING THE FUTURE OF THE PRIVATE SECTOR SMEs lobby, Opposition call for equal support across all sectors amid Covid-19 crisis Claudio Grech Joseph Farrugia Abigail Mamo Banks come out against windfall tax MALTA'S banking owners have outright- ly refuted calls for a tax on super-profits, claiming a windfall tax on their profits would be "short-sighted" and devastating for the economy. With Bank of Valletta registering close to €90 million in pre-tax profits, and HSBC Malta just over €45 million, the Malta Bankers Association today replied to calls for a windfall tax by declaring that their profits were not excessive. Malta Bankers Association insists banking profits are not excessive and should not be taxed any more

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