Minister for Energy, Enterprise and Sustainable Development Miriam Dalli launched a new wage supplement scheme for 2021 aiming to support companies which are most affected by the global pandemic.
Launched in the presence of various stakeholders, the scheme is planned to reach the largest range of companies and employees and will lead to an investment of €40 million per month.
“The 2021 scheme takes into account what has worked for businesses in recent months, but we have also listened to what was concerning business owners and social partners. What we are presenting today is the result of these discussions”, said Minister Dalli.
The new scheme will also be supporting businesses which had to engage new employees to replace those who voluntarily resigned, in order to continue operating.
“We are increasing investment to save jobs with 60% of applicants maintaining the same wage supplement level, or even receiving more. In addition, together with stakeholders we are working on a post-March strategy to continue helping companies move forward and grow”, said the minister.
She also stated that Maltese and Gozitan business were receiving additional support through other schemes covering electricity and rent costs.
Malta Enterprise CEO Kurt Farrugia said that, “About 40% of companies will see an increase in the wage supplement, while 20% will continue receiving the same amount. Those who fared even better than the previous year and had a good turnover, or suffered a minimum loss of less than 9%, will no longer be eligible for the wage supplement. Our commitment is to continue to work to prepare for the coming months through the Business Re-Engineering and Transformation measure, which will help regenerate businesses.”
Present for the launch of the scheme were representatives from the MHRA, the Malta Chamber of Commerce, the Chamber of Small and Medium Enterprises, the Association of Catering Establishments (ACE), FELTOM, the Malta Employers Association (MEA), and the Malta Entertainment Industry and Arts Association (MEIA). These representatives were also involved consultation meetings regarding the scheme.
The new scheme will come into effect as of January, with payments being issued on a monthly basis. This will mean that no new applications will be needed because companies that are already benefiting today are eligible for the scheme. It will be possible for businesses to include new workers through the emails which Malta Enterprise sends monthly to existing wage supplement applicants.