The Malta Chamber of Commerce, Enterprise and Industry welcomes the measures announced on Tuesday by Prime Minister Robert Abela aimed at supporting hard-hit businesses.
The Chamber described the new measures as ‘revised measures’ as they reflect the Chamber’s proposals put forward during the consultation process.
In a statement, the Chamber said that the new measures are intended to safeguard the interests of businesses from all sectors, both large and small, and the jobs they generate.
“The revised measures are being welcomed within the economic context, and as matters stand today. The measures announced today appropriately address the urgent surgical needs of the hardest-hit sectors” said the Chamber.
The Chamber also mentioned that another 100,000 workers elsewhere in the private sector might also be needing support eventually.
The Malta Chamber of Commerce was amongst the main proponents in the consultation process for the establishment of a standard minimum benchmark contribution by the employer in order to eliminate misinterpretation. It also said that it will continue monitoring the performance of all economic sectors, particularly because of the secondary effects of the crisis which could hit new sectors as we go along.
Of particular interest to the Chamber is the manufacturing sector which, in every economic crisis, is called upon to act as a pillar on which the remainder of the economy can rest.
In its statement, the Chamber referred to the results of a survey among Malta Chamber members which confirmed that the stimulus package needed to be directed more specifically towards more tangible wage support schemes for employers in hard-hit sectors, in order to save jobs and resources for local companies.
The Malta Chamber has also organised a high-powered e-meeting with 25 CEOs discuss and propose to the government a way forward in the current and future post-coronavirus scenario. This meeting was held after the chamber’s assessment of budget measures last week showed that the aid package put together by the government did not meet expectations at all.
The outcome of this discussion was communicated to the Prime Minister shortly after the conclusion of the meeting.
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