During a joint event organised by the Ministry for Finance and Bruegel, a Brussels based think-tank, a number of economists delivered their views on the importance and effectiveness of various policies aimed at stimulating the labour market.
PRESS RELEASE BY THE MINISTRY FOR FINANCE
In his keynote speech, Minister for Finance Edward Scicluna applauded the results that the various active labour market policies, introduced during the last three years, had on the Maltese economy. Minister Scicluna noted that people make their decisions based on the rewards and opportunity costs, and as expected people refuse to find work and go off social benefits when work simply does not pay. It was for this reason that a reform in the benefits and tax system was undertaken, whereas the incentives to work were enhanced in a way of making work pay.
Other speakers included the Chairman of the Employment and Training Centre, the Director General of the Economic Policy Department as well as representatives from Bruegel, the European Commission’s DG for Employment, Social Affairs and Inclusion, the OECD, the Institute for Employment Research (IAB), and the University of Portsmouth.
Friday 29th April 2016