The Malta Cooperative Federation (MCF) has submitted a series of innovative proposals for inclusion in the 2025 national budget, aiming to promote a more inclusive, community-based economy in Malta. These proposals are intended to address Malta’s various economic, social, and environmental challenges while emphasising the cooperative model’s potential to foster equitable growth, sustainability, and social cohesion.
A Vision for a Stronger Community
The MCF is advocating for a budget that redefines the economic framework, proposing a system that supports not only market-driven growth but also the social impact and community well-being. With the widening wealth gap in Malta and the rising cost of living, the Federation emphasises the critical need to aligning economic progress with long-term sustainability, and a fairer distribution of wealth. This approach resonates with Malta’s commitment to the United Nations’ Sustainable Development Goals.
Key Proposals for Budget 2025
- Community-Based Cooperatives
MCF calls for government support to encourage the formation of cooperatives in key areas like elderly care and renewable energy. Community-owned cooperatives can address social exclusion and foster job creation while promoting sustainable practices. - Housing Cooperatives
With housing affordability becoming a growing concern, MCF proposes the establishment of housing cooperatives as a solution to provide affordable, long-term, community-managed housing. This initiative can help counteract Malta’s rising property costs while fostering social cohesion. - Cooperative Banking
MCF advocates for the creation of cooperative banks, which prioritise the needs of their members over profit. This model would allow for greater financial inclusion, particularly for lower-income groups and small businesses, providing them with more affordable and personalised banking services. - Tax Reforms and Administrative Support
The Federation is urging the government to convert tax credits to cash grants for cooperatives and ensure that public procurement rules are more inclusive, giving cooperatives a fair chance to compete with traditional businesses. - Worker Buyouts and Cooperative Education
MCF also proposes the formation of a task force to explore the potential of worker buyouts as a tool for business continuity and job preservation. Additionally, it calls for the inclusion of cooperative education in the national curriculum to instil cooperative values in future generations.
A Call to Policymakers
The Malta Cooperative Federation believes that these proposals represent a significant step towards building a fairer, more resilient economy that values people, communities, and the environment. The Federation calls on the government and policymakers to consider these recommendations to create a more inclusive society where economic growth benefits everyone.