Views on Budget 2023: support for energy stability but few fresh ideas

Clyde Caruana's 2023 budget speech on Monday was met with support for government's efforts to cushion the country from inflation and rising energy prices, but criticism that it fell short of delivering fresh ideas for a long-term economic vision.  The Malta Chamber of Commerce said it had been expecting “more ambition” in the area of sustainability and the budget was simply a continuation of the current economic model - with all its strengths and weaknesses.  The Chamber added that it was positive that the government was acknowledging the persistent traffic problem and was seeking to limit the circulation of service vehicles before 9am.  It remarked that a longer-term vision for the country is necessary to maintain economic stability.  “The bulk of proposals are actually directed at maintaining spending power rather than improving quality of life. While subsidising energy and maintaining spending power is good for business, the country needs a longer-term strategy to be future-ready,” they said. "We would also have liked to see more tangible support with respect to innovation and new economic niches that can guarantee sustainable economic growth." 'More needed for challenges...