Issue link: https://maltatoday.uberflip.com/i/1309486
8 maltatoday | SUNDAY • 15 NOVEMBER 2020 NEWS Global Funds SICAV Plc (SV6) Company in Liquidation The liquidator of the above Scheme is receiving due diligence from remaining investors. Investors are to submit their due diligence documents by 20 December 2020 in terms of the investor letter forwarded. Such due diligence must be received by the Liquidator on the following email GFS_liquidator@mazars.com.mt and the following address: The Liquidator – Global Funds SICAV Plc (SV6) c/o GlobalCapital Plc Triq Testaferrata Ta' Xbiex JAMES DEBONO THE Maltese are the least likely in the European Union to think that restrictions on public liber- ties to fight COVID-19 are not justified. This emerges from a recently published Eurobarometer sur- vey based on interviews con- ducted in July. While in the entire European Union, 17% think that these restrictions were not justified, in Malta only 4% think so. On the other hand. 94% of Maltese respondents said that these restrictions were justi- fied compared to 82% of re- spondents in all EU member states. In Malta, 48% said that these restrictions are absolutely jus- tified while 46% replied that these restrictions were "some- Opposition to COVID-19 restrictions lowest in Malta 94% support restrictions on public liberties due to pandemic, only 4% say they are unjustified NICOLE MEILAK MALTESE agriculture is losing an annual €3 million in state aid after a reform in Common Agri- culture Policy rules removed the ability to derogate from rules for direct aid to farmers. The matter has been brought to fore by Labour MEP Alfred Sant, who says Maltese farmers will face massive drops in state aid and even face a definite col- lapse of the industry. The new EU farm strategy, a successor to the 2014-2020 CAP, will see major changes in Malta's system of direct farm aid. Under previous rules, farmers could claim up to €3 million in voluntary coupled support, but other member states had just 8-13% of their annual na- tional ceiling. Without the der- ogation, Malta follows others members states in allocating just 13% of direct aid, now re- branded as 'coupled income support'. Sant has warned that previous aid accounted for 57% of Mal- ta's CAP funds between 2014- 2020; now this cash will fall to just €650,000 every year, split between the dairy, beef, sheep and tomato processing sectors. "The derogation is needed in order to balance the already disadvantaged status of Mal- tese farmers in the European market. This is especially cru- cial in the Maltese dairy, toma- toes, beef and sheep sectors. Voluntary coupled support is needed not only to sustain production levels of important sectors, but also to help the ag- ricultural sector compete with excessively high land prices and to safeguard the country- side landscape," Sant has ar- gued. Malta's dairy and tomato in- dustries have long command- ed a generous proportion of voluntary coupled support, guaranteeing a certain level of income and production. "The dairy sector also exerts an im- portant pull on the use of ara- ble land, as half of our utilised agricultural area is earmarked for the cultivation of fodder. Without a viable dairy sec- tor, farmers producing fodder would have no outlet to sell to," Sant said. Beyond the derogation, Sant suggests that Malta is better off obtaining special status within the EU, similar to the status granted to the Greek Aegean islands. Like Malta, the Aegean islands are highly insulated and face severe geographic con- straints. To offset these challenges, these islands benefit from an added support scheme under CAP so that they limit the ad- ditional costs of transporting agricultural products, and to foster the development of local production. "Much more needs to be done to further target dis- advantaged regions and assist small farmers and their com- munities," he said. Those working in agriculture share a similar sentiment. Jean- ette Borg from the Malta Youth in Agriculture (MaYA) Foun- dation agrees with the idea of negotiating a special agreement within the European frame- work given the insularity Malta faces, and Gozo doubly so. "Other member states sell produce and ship them to Maltese shores with a certain ease – huge production quan- tities allow for lower produc- tion costs due to economies of scale. Locally we cannot compete through quantities produced and most of our in- puts need to be procured from abroad such as fodder, grains, fertilisers, and other essentials to produce crops and livestock. Being away from the mainland increases our shipping costs, both to ship goods to and away from Malta." But Borg welcomed the over- all CAP reform, which will see somewhat of a decentralisa- tion process, making individ- ual member states drawing up national strategic plans on the way they intend to implement nine new CAP objectives. Borg said the dedication of a minimum 2% of member states' direct payments towards young farmers and added measures that facilitate access to land and land transfers will reinvig- orate part of the industry. "Se- curing funding for young farm- ers means securing a future for farming in our country," she said. Farmers braced for massive drop in state aid MEP: Malta needs special status if dairy, meat and tomato processing sectors can survive drop in state aid