Issue link: https://maltatoday.uberflip.com/i/1528582
15 maltatoday | SUNDAY • 27 OCTOBER 2024 BUDGET 2025 On Monday 28 October, MaltaToday will deliver comprehensive coverage of Budget 2025. Follow us for live updates as Finance Minister Clyde Caruana presents the government's fiscal plans for the coming year. Our special coverage will feature a live blog with real-time updates, while economist JP Fabri from Seed Consultancy will provide real-time expert analysis, breaking down the economic implications of the budget. Our team of journalists will also be on hand to unpack the new measures and explain how they will impact businesses, families, and the wider economy. Make sure to follow MaltaToday throughout the day for all the latest news, expert commentary, and detailed insights on Budget 2025. MaltaToday will also be publishing a special Budget print edition on Tuesday, and an extensive Budget supplement on Sunday 3 November. Follow us on Instagram, Twitter and Facebook to stay updated on everything Budget 2025. MaltaToday with real-time updates as Clyde Caruana reads his speech Social partners call for new review, workplace pensions insisting it will infringe on the individual's right to free asso- ciation. The UĦM on the other hand agrees with mandatory un- ion membership for low-income earners only but is also propos- ing that non-unionised people in a workplace where a union en- joys recognition, should either join a union of their choice or else pay the equivalent of a un- ion membership fee into a cen- tral fund. Supplementary pensions Supplementary pensions seem to be gaining traction in recent years. In September, the Insurance Association Malta (IAM) had made headlines for calling on government to implement man- datory workplace pensions, with a voluntary opt-out, and intro- duce a transitory framework for employers to contribute towards their employees' pensions. "With people living longer and not always managing to set aside sufficient money for their future, a mandatory workplace pension will help to smoothen the tran- sition as they retire to maintain a good standard of living," IAM said. Similarly, the Malta Chamber proposed the encouragement of supplementary pensions through automatic enrolment with the option to opt-out, as the lobby said that employers who take up such initiatives should be granted more attractive tax incentives. Gozo Gozitan social partners, while having many of the same con- cerns as their counterparts in Malta, also grapple with unique challenges, such as connectivity between the islands and a differ- ent economic eco-system. On connectivity, the Gozo Business Chamber (GBC) urged the government to address the sector's long-term future. While acknowledging that a "perma- nent link" between the islands seems to have fallen out of pub- lic discourse, the GBC called for enhancing Gozo Channel's fer- ries. "A strategic decision needs to be taken on the replacement of these [current] ferries, and po- tentially also the introduction of a fifth ferry. In fact, when one of the present ferries is not in oper- ation, the services between the two islands are significantly dis- rupted." The GBC highlighted that Mġarr Port's heavy congestion, as it called for the port's "poten- tial expansion or the creation of an alternative port." The lobby spoke specifically of the island's main town, Rabat, as it called for a complete regenera- tion of the locality which includes more green spaces, underground parking and a fix for traffic con- gestion. Meanwhile, the need for en- hanced Gozo Channel operations was echoed by the Gozo Tourism Association (GTA), as they called for a fourth ferry to replace Niko- laos. The Gozitan tourism lobby further suggested the equipping of landing places for cruise ten- ders in Xlendi, Marsalforn, and Ħondoq ir-Rummien. The association also proposed new regional plans and policies designed to preserve Gozitan vil- lages, as well as the introduction of fiscal incentives to encourage the restoration of existing tradi- tional properties.