Government to Support SMEs with Wage Increase Coverage
The government will cover up to 65% of wage increases for employees in small and medium enterprises (SMEs) as part of the expanded MicroInvest scheme.
According to Finance Minister Clyde Caruana, this measure aims to help local businesses raise salaries while remaining competitive. He described it as a way to
"reward good employers" who invest in their workforcewhile easing the cost of wage growth in a tight labour market.
- The scheme will apply to salary increases spread over two years.
- Refunds will rise to 80% for Gozo-based companies.
Author's summary: Government expands MicroInvest scheme to support SMEs.
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