Updated - Fenech outlines cost of PN electoral promises

Updated - PN costings presentation on pdf below - Finance Minister Tonio Fenech this afternoon gave details of the cost of programmes unveiled in the PN electoral programme and said they would not detract from the government's aim of achieving a balanced budget by 2015-16 Speaking at PN headquarters, he said realistic forecasts of economic performance showed economic growth of 3.2 per cent in real terms by 2017 in a no-policy change scenario. Growth in nominal terms would be a maximum of 5.6 per cent. PROGRAMME COSTS He said the PN was proposing a number of measures to boost job-creation including childcare facilities, which on their own would cost €5m per year. Business promotion incentives including incentives for business start-ups would cost €7 million per year. The budget of the Malta Tourism Authority would rise by €3m a year. Tax cuts announced in the Budget to reduce the top income tax rate to 25 per cent as well as adjustment of other tax bands and the removal of duties on the transfer of property from parents to their children by donation or inheritance would cost the government €60 million in revenue. In the health sector, €15m more would be spent in the first year on...