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A socially just and responsible budget

The General Workers’ Union in its response to the 2023 budget.

In its first reaction to the 2023 budget, the General Workers’ Union said it considers this budget a socially just and responsible budget that continues to build on the social framework of past budgets.

“The GWU is also very satisfied that this is another budget with a social soul. While our neighboring countries are still finding their feet and struggling with an economic crisis, the Maltese government has announced a budget that guarantees economic growth, peace of mind and above all sensitivity to the social soul. A budget that helps and supports the most vulnerable in our society.”

For GWU, the most important measure is that the government guarantees that it will continue to subsidize the prices of energy, fuel and grain. The cost of this is 608 million euros. And this without introducing new taxes and without jeopardising the financial sustainability of our country.

We are also satisfied with the increase in pensions, the introduction of the second additional COLA mechanism, the increase in child benefits, the increase in care benefits, the subsidy for first-time buyers, the increase in stipends and tax refunds, and much more. In addition, there are various measures to improve the environment to finally improve our quality of life.

We are also satisfied that our country’s economic growth is expected to reach up to 4.6% in 2023. At the same time, the deficit will decrease from 8% to 5.8%.

“The government has been able to do this because it has provided stability for families, workers and businesses in recent months and years. A budget that ensures the recovery of the economy and sees the current challenges as an opportunity for Maltese companies and foreign investment to continue to grow,” concluded the GWU.