‘Invest in young people, not just one-off measures’ – JA Malta CEO on Budget 2027

Malta's Budget 2027 should prioritise long-term investment in education, financial literacy and entrepreneurship rather than relying predominantly on one-off measures, according to JA Malta CEO Matthew Caruana.

Speaking to MaltaCEOs.mt ahead of the Budget presentation on Monday 26th October, Mr Caruana outlined a series of proposals aimed at equipping young people with practical skills, supporting entrepreneurship and strengthening the voluntary sector.

Speaking from JA Malta's perspective as an educational NGO, he argued that investing in financial capability and entrepreneurial skills from an early age is essential to developing a more resilient economy.

"JA Malta would like to see a budget that invests in Malta's young people and in the next generation of entrepreneurs and leaders, rather than relying mainly on one-off measures," he said.

Making financial literacy a national education priority

Among JA Malta's principal proposals is the introduction of financial literacy and financial health education across the national curriculum.

Mr Caruana said financial education should become a mainstream component of schooling, particularly as Malta prepares for the next Programme for International Student Assessment (PISA) financial literacy assessment.

He also called for greater investment in teacher training, enabling educators to incorporate financial concepts into their respective subjects.

While JA Malta is already providing such training, he believes these efforts should be expanded nationally.

"This is already happening by ourselves but now it needs to go on a national scale," he explained.

Another key proposal is the introduction of a National Entrepreneurship Education Policy, establishing a consistent approach to entrepreneurial learning from primary school through to tertiary education.

According to Mr Caruana, the objective should extend beyond teaching business concepts to developing practical life skills, creativity, critical thinking and adaptability.

A national campus dedicated to entrepreneurship

Looking beyond the immediate Budget, Mr Caruana called for multi-year commitments to education and youth development aligned with Malta Vision 2050.

One of JA Malta's proposals is the establishment of a National Entrepreneurship and Financial Literacy Campus, an interactive educational centre designed to provide hands-on learning experiences for students, families and schools.

Mr Caruana likened the proposed concept to Esplora, Malta's interactive science centre, but with a focus on entrepreneurship and financial education.

Drawing on international examples, the proposed campus would aim to make financial and entrepreneurial learning more accessible through practical experiences.

JA Malta believes such an initiative could translate the long-term objectives of Malta Vision 2050 into educational opportunities for younger generations.

Supporting young entrepreneurs and small businesses

Beyond education, Mr Caruana identified several measures aimed at improving the business environment, particularly for young entrepreneurs, social enterprises and smaller businesses.

He called for further support to build on the Intrapriza16 legislative change, arguing that promotional initiatives, incentives and practical assistance are needed to encourage its uptake.

The JA Malta CEO also called for incentives for social enterprises, expressing concern that the forthcoming regulatory framework places emphasis on obligations and limitations without necessarily providing corresponding benefits.

He argued that appropriate support measures would help ensure the sector's viability.

Another concern raised was the cost of exporting goods from Malta, particularly for small businesses and e-commerce operators.

As an island economy, Malta faces additional shipping and logistics costs, which can create challenges for businesses seeking to expand internationally.

To address this, JA Malta proposed exploring coordinated shipping and logistics arrangements that would allow businesses to benefit from economies of scale.

Alternative measures could include shared warehousing and management services in mainland Europe, helping smaller enterprises reduce costs associated with accessing overseas markets.

Expanding incentives for voluntary organisations

Mr Caruana also called for greater support for Malta's voluntary sector, particularly through incentives designed to encourage private sponsorships and donations.

He proposed extending existing incentives available to certain sectors, including creative organisations and animal welfare, to all registered voluntary organisations.

According to JA Malta, broadening these incentives could help NGOs attract additional private funding and strengthen their financial sustainability.

The organisation also identified clearer VAT rules for voluntary organisations among its Budget priorities.

Ultimately, Mr Caruana argued that Malta's economic development should be supported by consistent investment in education and entrepreneurship rather than measures focused solely on immediate outcomes.