GRTU proposes remedial plan against tariff increases
The Malta Chamber of SMEs (GRTU) has presented a “remedial plan” to mitigate the economic impact of the water and electricity tariffs on small business.
Director Vince Farrugia met Finance Minister Tonio Fenech on Monday to present the GRTU’s analysis of the impact of the tariffs on SMEs, to push ahead with specific aid schemes presented in the last budget.
These include the micro-credit and special tax credit schemes, electricity tariff support funds, feed-in tariff system and the energy audit scheme.
“These should be immediately implemented as the new tariffs will further dampen SMEs prospects for the first half of 2010,” GRTU said.
GRTU claims over 36,000 businesses will see energy tariffs go up by 48.7%, generating a 1.5% inflationary increase or threaten up to 1,000 jobs.
GRTU says remedial measures should include assisting investments for energy-saving and higher feed-in tariff rate; a power conservation programme; eco-rebates; energy audits; solar powering of traffic lights and public lights; removal of meter rental fees; a water audit scheme; and a long-term rebate plan for industry and hotels that use better technologies for water use and distribution.
GRTU also advised the minister to analyse all views of social partner representatives on MCESD, and to attend MCESD and present an approved and agreed mitigation plan for implementation by the end of January 2010.
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