Issue link: https://maltatoday.uberflip.com/i/1300699
3 maltatoday | TUESDAY • 20 OCTOBER 2020 BUDGET2021 BUSINESS INITIATIVES Malta Enterprise will continue and strengthen initiatives related to start-ups, online selling, and schemes to strengthen innovation among companies that employ less than 50 people. New foreign investment schemes will also be announced. VAT EXEMPT VAT exempt threshold will increase to €30,000 from €20,000. AIR MALTA Government has formally filed state aid application with European Commission to be able to give airline financial assistance. TOURISM There will be an emphasis on rebuilding tourism with the aim of reaching a net carbon neutral sector. Schemes to cover marketing and events. GOZO Existing schemes providing incentives for jobs in Gozo will be strengthened. Emphasis will be placed on infrastructural works and connectivity through a fast-ferry service. FARMERS/FISHERS Farmers and fishers will receive grants equivalent to the tax paid on sales made at the vegetable market (pitkalija) and fish market (pixkerija). GREEN ECONOMY Climate change strategy to achieve low carbon society will be released. Green bonds to finance projects linked to environmental projects will be issued. SINGLE-USE PLASTICS Importation of single-use plastics will stop next year and retail sales will end in 2022. CAR SCRAPPAGE SCHEME Incentives to scrap old cars will be retained. INCENTIVES ON BICYCLES, AUTO GAS Upward revisions in aid to adapt car to run on LPG gas and the purchase of bicycles. MAKING SCHOOLS COVID-READY Government spent an additional €20 million in 2020 to ensure State schools adhere to COVID-19 health and safety protocols. Government will be in talks to provide Church and private schools with help in this regard. FREE INTERNET Students who continue studying beyond the age of 16 will benefit from one year free internet. WAGE SUPPLEMENT Wage supplement will be extended to end March 2021. The same format as it is today will continue until the end of December 2020. A review will be undertaken to determine how it will change. Current expenditure is €30 million per month but government anticipates this may increase.