Five Takeaways from the Leaders’ SME Chamber Debate

Malta’s political heavyweights faced off at the Chamber of Commerce’s SME debate last night, with business owners and entrepreneurs packing the Grand Master’s Palace in Valletta. The air was thick with anticipation as Dr. Robert Abela, Prime Minister and Labour Party leader, and Bernard Grech, Opposition Leader and Nationalist Party candidate, took their seats. Here are five key takeaways from the debate that could shape Malta’s business scene.

1. Taxation: A Thorny Issue

The debate kicked off with taxation, a hot topic among Malta’s SMEs. Grech criticized the government’s handling of the issue, arguing that the tax burden on businesses has increased, despite promises to the contrary. Abela, however, pointed to the government’s initiatives like the reduced tax rates for small businesses and the COVID-19 wage supplement as evidence of their support for SMEs.

“We’ve seen firsthand how the wage supplement has kept businesses afloat during the pandemic,” said Mario Vella, owner of Valletta’s popular café, Café Society. “But we’re also feeling the pinch of increased taxes. It’s a complex issue.”

2. The Housing Crisis: A Business Concern

The housing crisis, typically a social issue, found its way into the debate. Both leaders acknowledged the strain it places on businesses, with Abela highlighting the government’s affordable housing schemes and Grech calling for more aggressive action. The lack of affordable housing for employees, they agreed, is a barrier to growth for many SMEs.

“I’ve had employees leave because they can’t afford to live here,” said Michelle Muscat, owner of Il-Kartell, a local design studio. “It’s a real challenge for businesses like mine.”

3. Education: Skills Gap and Work-Life Balance

The debate touched on education, with both leaders agreeing that Malta’s education system needs reform to better prepare students for the job market. Grech emphasized the need to address the skills gap, while Abela highlighted work-life balance through flexible learning options.

“We need more vocational training and apprenticeships,” said Mark Camilleri, CEO of Camilleri Group, a local engineering firm. “And yes, work-life balance is crucial for attracting and retaining talent.”

4. Sustainability: A Business Imperative

Sustainability was another key topic, with both leaders acknowledging its importance for Malta’s future. Abela pointed to the government’s green initiatives, like the shift to renewable energy, while Grech called for more ambitious targets and stricter enforcement of environmental regulations.

“Sustainability isn’t just a buzzword for us,” said Joseph Borg, co-founder of Eco-Malta, a local eco-tourism company. “It’s a business imperative. We need policies that support this.”

5. Brexit and the EU: Navigating Uncertainty

The debate closed with a discussion on Brexit and Malta’s relationship with the EU. Both leaders agreed that Malta must prioritize its EU membership, with Abela emphasizing the importance of EU funding for Malta’s economy and Grech calling for a more critical approach to EU policies.

“Brexit has shown us that we can’t take our EU membership for granted,” said Helen Dimech, director of MD Group, a local marketing agency. “We need to engage more with EU policies and make our voice heard.”

The debate offered a glimpse into the priorities of Malta’s political leaders and the challenges facing its SMEs. As Malta looks towards the next general election, these issues will continue to shape the political discourse and the future of the country’s businesses.