Issue link: https://maltatoday.uberflip.com/i/1528615
10 maltatoday | TUESDAY • 29 OCTOBER 2024 BUDGET2025 THE budget falls short of any reference to the development of a mass transportation system like a metro or monorail but mentions gov- ernment investment in an Intelligent Traffic Management System aimed at optimising traffic flows. Without providing details, the budget hints at several proposals that can be implemented in the short term to reduce traf- fic congestion during peak hours through bet- ter organisation of road traffic. This will be achieved through improved co- ordination of roadworks, improvements in public transport, parking schemes, and a re- duction in dependency on private cars to en- sure a transition toward sustainable mobility. Further details are expected in a transport master plan, which is set to be launched in the coming days. It also refers to strengthening maritime con- nections through an increase in routes and the number of ferry boats. Additionally, it men- tions the development of an underground car park in the vicinity of existing ferries. No refer- ence is made to the location of these car parks, although the Planning Authority has recently renewed a permit for the development of park- ing at the Sliema ferries. The government will also extend the existing scheme subsidising the purchase of electric vehicles, including an €8,000 grant for buy- ers of electric cars. The scheme incentivising pedelecs and scooters will also be retained. Furthermore, the government will be publish- ing a national strategy to encourage cycling as an alternative mode of transport. THE government will reduce the excise duty on low-alcohol beer produced by small and independent breweries in Malta with the aim of creating a level playing field on the market. The change in how excise on beer is calcu- lated will change from degree Plato to ABV%. Excise duty on small wine producers will also be significantly reduced, in a bid to boost the sector and lead to better returns for farmers. A Food Safety Authority will be set up in 2025 to establish a single regulator in the area of agriculture and fisheries, while having a re- sponsible authority to ensure food security in case of a crisis. To reduce food waste, a tax incentive will be given to food producers and retailers whose products approaching their expiry date are giv- en for social needs or sold at a reduced price. A €4 million EU-funded project will strength- en digitalisation in the fisheries and aquacul- ture sectors. "Having set up the first research agency for fisheries and aquaculture, we will be implementing a number of projects also through international collaborations, launch- ing the process for a new aquaculture centre," finance minister Clyde Caruana said. 2024 marked the start to a reform on arable lands' rentals with the setting-up of the agen- cy responsible for agricultural land, registering agricultural leases and removing inheritance tax on leased land. "We will give incentives to non-commer- cial farmers who have agricultural land leased to them by the government to enter into ar- rangements with commercial farmers willing to farm that land. This will be complemented by a pilot project where agricultural land is of- fered for lease to new entrants or farmers on the concept of fair price and categorisation of farmers. We will also be preparing a national plan for irrigation water management and ex- ploring mechanisms to address climate risks faced by farmers, farmers and fishermen," Caruana said. THE budget reaffirms the govern- ment's commitment to developing offshore wind farms in Malta's Exclu- sive Economic Zone, which extends up to 370 km from its coastline, and solar energy projects in its territorial waters, which extend to 22 km from its coastline. The budget clearly indicates that Malta is opting for floating offshore wind farms because the bathymetric characteristics of Malta's territorial sea severely restrict areas suitable for wind turbines fixed to the seabed. After six potential areas for renew- able energy projects were identified earlier this year, two areas where such development would have the least environmental impact were later pinpointed. The government is also looking into nearshore solar projects. The budget describes the govern- ment's vision in this sector as strate- gic, which will be developed step by step. The first step is the implemen- tation of the second interconnector aimed at strengthening network sta- bility, followed by investment in mass energy storage using onshore batter- ies. The final step involves issuing a preliminary market consultation to assess interest and market readiness for this investment. Next year will also see the continu- ation of works commenced last year aimed at strengthening 82 kilometers of electricity cables in 19 localities, along with upgrades to substations, distribution centers, and lighting feeders, among others. Regarding water infrastructure, the budget reaffirms the implementation of a national plan worth €310 million over 10 years, through which the Wa- ter Services Corporation aims to meet demand by supplying "high-quality water." It also reaffirms the commitment to expanding the reach of New Wa- ter, which is good quality water used for agriculture derived from sewage treatment plants. Waste: Free compost for farmers and bulky waste The budget also refers to progress being made in turning organic waste into compost, which will be offered "free of charge to farmers." WasteServ is also working on several large-scale projects designed to improve existing infrastructure. These include a new facility that will separate bulky mixed waste, which often includes recycla- ble materials like metal and wood. Thanks to this facility, Malta will re- duce 47,000 tonnes of waste from its landfill. PROJECT Green, the government en- tity responsible for new public open spaces, will be opening 19 projects next year. These include new open spaces in Luqa, Lija, San Giljan, and Kirkop, which could have been earmarked for real estate. The budget proudly states that through Project Green, Ambjent Mal- ta, and GreenServ, the government has "created more than 105,000 square metres of open spaces," with over 26,000 trees being planted in the same period. Moreover, Project Green has embarked on works in eleven different valleys to improve the safety of visitors and enhance rainwater collection. Sim- ilar works were conducted in Natura 2000 sites in Comino, Ramla l-Hamra, the Majjistral Park, and il-Maghluq in Marsaskala. The budget made no reference to the flagship projects listed in the Labour Party's 2022 manifesto that would see key main roads shifted into tunnels with gardens built above them. Budget hints at investment in 'intelligent traffic management' Reduced excise for low-alcohol beer and wine produced in Malta Clean energy: Offshore wind and nearshore solar Project Green to unveil 19 projects in 2025 Further details expected in Transport strategy to be announced in the next days JAMES DEBONO jdebono@mediatoday.com.mt JAMES DEBONO jdebono@mediatoday.com.mt