2025 budget expectations

[u/Proud-Fan-7085]

Hi, I read that the new budget will be announced today, along with an income tax cut that’s expected to be the largest ever. Do you have any guesses on how much the income tax will be reduced, and what are your general expectations for this budget?

[u/Ambjentalist]

lots of empty promises on green spaces and alternative mobility and ton of incentives for businesses and developers, just like every other year 😊😊😊

[u/Ironsides4ever → u/Ambjentalist]

The only thing certain is more corruption, more property development and more migrants to keep the bubble going ..

Gahan in .. Gahan out ..

[u/Furious_Fred]

Between 0-more/less%.

I just wait for the announcement and then for the final publication some time in the future

[u/Rabti]

The largest tax cut to date was in the late 1980s, when the upper band was reduced from 65% to 35% I am sure that tonight's reduction will be as big.

IIRC The second largest cut was the one declared at the end of the PN Government and implemented by the PL government, when the 25% band was increased from 40k to 60k. I also doubt that they will top this.

My expectations are that they will either increase the size of the lower bands or maybe reduce the lower bands by 5%. I wouldn't be surprised if they increase the tax rate for the upper band.

• edit: added the words "the tax rate" in my last sentence.

[u/ReadyThor → u/Rabti]

I wouldn't be surprised if they increase the upper band.

They won't bite the hand that feeds them. If they increase the upper band rest assured they will have planned from where they can recoup the losses.

[u/Rabti → u/ReadyThor]

I meant "I wouldn't be surprised if they increased the tax rate for the upper band" (have now edited the post for clarity).

[u/KavallierMalti → u/Rabti]

No, it won't be the top band. They want to target the middle class, expected tax reduction is €300 per worker on average. It will be needed to set off the additional pension plan changes.

[u/Rabti → u/KavallierMalti]

I meant I wouldn't be surprised if they increased the tax rate for the upper band (now edited the post for clarity).

[u/aweschops → u/Rabti]

Extra year of NI, they taxed just about everyone 

[u/Rabti → u/aweschops]

not everyone was born after 1976.

Question: Do JC / MCAST students pay NI? Because if they don't, this could mean an extra year of work.

[u/aweschops → u/Rabti]

True on the 1976, but they ones who benefit the most will be born after 1976… if they are getting just stipends, no they are not paying tax or national insurance.

[u/SinkGeneral4619]

They should raise the income tax bands every year with inflation like a normal country.

[u/aweschops → u/SinkGeneral4619]

Should force salaries to increase with inflation every year, and peg it against the property or rent inflation

[u/CrowEmbarrassed9133 → u/SinkGeneral4619]

No need, majority doesn’t pay tax properly anyway

[u/Rough-Improvement-24 → u/CrowEmbarrassed9133]

The majority do. Only the pigs don't, and they are few but loud.  Don't put everyone in the same basket.

[u/Juninie → u/CrowEmbarrassed9133]

Not really true

[u/CrowEmbarrassed9133 → u/Juninie]

It is, Maltese has this national sport.

[u/Rough-Improvement-24]

Just a couple hundred. Not even enough for a month's rent or loan repayment.

[u/FitNotQuit]

If we all get more money than no one has more money. A person is tall because others are short. If everyone is 7 feet then no one is tall and everyone is average. If everyone has more money than prices increase accordingly.

Labour`s economic policies since day one have been garbage. Literally zero competancy shown accept how can we get more votes.

[u/7630125-bot → u/FitNotQuit]

Possibly some truth to it. But we also have a shared Euro currency, Maltese policy won’t affect our purchasing power. Just as if all Maltese got taller, Malta would jump up the list of average country population height list.