Malta’s SMEs Take Center Stage in Heated Leaders’ Debate

Malta’s business community was abuzz last night as the SME Chamber hosted its first-ever leaders’ debate. The event, held at the historic Mediterranean Conference Centre in Valletta, saw the country’s top political contenders lock horns over issues closest to the heart of local entrepreneurs. Here are five key takeaways that could shape the future of Malta’s SME scene.

The debate kicked off with a contentious issue – taxes. Both Labour’s Robert Abela and PN’s Bernard Grech agreed that the tax burden on SMEs needs to be eased, but they differed on how to achieve this. Abela pointed to Labour’s track record, highlighting the reduction in tax rates and the introduction of new incentives. Grech, however, argued that the current tax system is ‘punitive’ and called for a complete overhaul.

“We need a tax system that rewards hard work, not penalizes it,” Grech asserted, drawing applause from the audience. Abela, unfazed, retorted, “We’ve shown we can deliver. We’ve cut taxes 25 times since 2013. Let’s see what the Opposition has done in the same period.”

The debate turned to Brexit, with both leaders acknowledging the challenges posed by the UK’s exit from the EU. However, they offered differing views on how to turn this into an opportunity for Maltese SMEs. Abela emphasized the government’s efforts to diversify Malta’s trade partners, while Grech called for a more aggressive approach to attract British businesses to set up shop in Malta.

“We’ve seen a surge in interest from British companies looking to relocate,” Grech said. “We need to roll out the red carpet and make Malta the go-to destination for post-Brexit businesses.” Abela, however, cautioned against relying too heavily on one market, stating, “We need a balanced approach. We can’t put all our eggs in one basket.”

Both leaders acknowledged the pressing issue of skills gap in Malta, with Abela admitting that “we’re not producing enough graduates with the right skills to fill the jobs of tomorrow.” Grech, however, accused the government of not doing enough to address the issue, stating that “we need a comprehensive plan to equip our youth with the skills they need to thrive in the digital age.”

Both leaders agreed that collaboration between industry and education is key to bridging this gap. However, they differed on who should lead this effort – Abela emphasizing the role of government, while Grech called for more private sector involvement.

The debate also touched on public procurement, with both leaders agreeing that the system needs to be more transparent and fair. Grech accused the government of favoring large corporations over local SMEs, while Abela defended the government’s record, pointing to the increase in the number of SMEs winning public tenders.

“We’ve made significant strides in increasing SME participation in public procurement,” Abela said. “But we know there’s more work to be done. We’re committed to making the process more transparent and accessible to all.”

As the debate drew to a close, both leaders issued a call to action. Abela urged SMEs to “work with us, not against us. Together, we can build a stronger, more resilient economy.” Grech, on the other hand, called on SMEs to “hold us accountable. Demand more. Demand better. Because you deserve better.”

The debate, while heated at times, offered a glimpse into the priorities and plans of Malta’s political leaders when it comes to supporting the backbone of the Maltese economy – its SMEs. As the country gears up for elections, one thing is clear: the voice of the SME sector will be a crucial factor in shaping the future of Malta.