Shadow Minister for the Economy Darren Carabott has said his first Budget in the role was about more than scrutinising the government’s proposals, describing it as an effort to lay the foundations for Malta’s economic future. It was the first Budget since the last general election.

Carabott said the Opposition had spent the preceding weeks meeting unions, chambers, businesses and other stakeholders, who shared their experiences, concerns and their vision for Malta. Where the government had failed to listen he said, the Opposition had chosen to engage and the responsibility now was to ensure those voices helped shape its economic thinking.

He argued that Malta needs to take the next step in the evolution of its economic model, one that prioritises high-value investment, creates less labour-intensive opportunities, improves productivity and gives businesses the tools to compete internationally. A small country, he said, can treat its size as its greatest advantage, being more agile than larger jurisdictions, identifying emerging industries early, embracing technology and artificial intelligence, supporting start-ups and building the right environment for innovation and investment.

Achieving that, he added, requires ambition, courage and a clear view of where the country wants to be in the years ahead. Malta should not simply adapt to the future, he said but have the ambition to help shape it.

The remarks follow the Opposition’s wider response to Budget 2027, the government’s programme of priorities and fiscal measures for the year ahead. Carabott had earlier criticised measures raising costs for non-EU migrant workers, calling them morally wrong and saying it was wrong to spend 13 years encouraging foreigners to come to Malta only to then dump them overnight.

Carabott thanked those who had met the Opposition and challenged its thinking, saying their contributions were invaluable and that he looked forward to continuing the conversation. This he said, was only the beginning.