‘Malta prepared for Brexit financial impact’ – PM

The Prime Minister Joseph Muscat said that the Government has a contingency plan and is currently preparing for the financial impact to Malta in the case of a no-deal Brexit in Parliament on Wednesday. This will be of around €6 million a year paid to the European Union, as well as €12 million more in dues.

Muscat said that the worst part of Brexit is the fact that Maltese students who want to study in England might see a rise in their fees, despite the English Government not having yet shown any intention of doing so.

The Prime Minister said that there are two factors influencing tourism from the UK to Malta; British consumer confidence, and that the value of the Pound Sterling is expecting a plunge in rates in the case of a no-deal Brexit. He added that despite English tourists being the most popular in Malta, they’re not expected to leave an impact on the aim of having 300 million tourists in Malta by the end of 2019.

On his end, Opposition Leader Adrian Delia said that in any case, whether the UK gets their deal or not, Malta must work towards keeping the best relations with the UK. He added that the Opposition is currently worried about the civil rights of the Maltese citizens in the UK, about Maltese businesses, and even the British living in Malta.

More details following