Latest employment figures released by Eurostat show that in the first quarter of this year Malta recorded the highest employment growth amongst the 28 EU member states with an employment growth rate of 3.7 per cent.
PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE
This marks a second consecutive quarter in which Malta records such an achievement since its 3.4 per cent employment growth rate was also ranked the highest when compared to the other EU member states during the last quarter of 2015.
Minister for Finance Prof. Edward Scicluna remarked: “Malta’s top-ranked employment growth owes its success to a number of budget initiatives implemented in the last three years. These have resulted in making work pay and creating labour market opportunities, while discouraging dependencies.”
Some of the most prominent budget measures include the ten percentage point reduction in the personal income tax rate from 35 per cent to 25 per cent, the raising of the income tax free threshold, in-work benefits, the tapering of benefits, free childcare centres and other fiscal incentives for both the employers and persons willing to work.
Tuesday 14th June 2016