Latest employment figures released by Eurostat show that in the
first quarter of this year Malta recorded the highest employment
growth among the 28 EU member states with an employment growth rate
of 3.7 per cent.
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.
Source: Ministry for Finance Press Release
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Strategic planning is crucial to profitable business growth, but companies typically realise only about 63% of their business strategy's potential financial value because of defects and breakdowns in strategic planning and implementation.
One of the greatest challenges facing employers today is finding and keeping good employees. This article describes some effective employee retention strategies that will help you retain good staff and develop a stable workforce.
Switch on the TV news, follow Twitter or read a paper and it can feel like we are living in an era of high, perhaps unprecedented, uncertainty.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).