Chamber of Commerce says that labour-related expenses are impacting competition
The Chamber of Commerce has compiled the six challenges being faced together with its recommended proposals for the Budget in order for solutions to be found to the problems that are currently impacting the commercial community.
The Chamber’s President, David Xuereb, said that increased expenses relating to labour employment are impacting competitivity. He said an analysis should be carried out on the causes of increased inflation such as additional vacation leave allocation, greater labour mobility and a lack of productive personnel.
In its Budget proposals the Chamber recommended increased efforts to find alternative means of transport to substitute the use of personal vehicles as a traffic priority and also emphasised the need for reforms in the property rental sector.
There is also a recommendation that with immediate effect, human and financial resource be made available to implement a strategy on money-laundering and the financing of terrorism, factors which it classed as threatening the stability and sustainability of the financial sector.
Regarding the construction sector, the Chamber is proposing on what it deems to be shortcomings in the industry for these to be promptly addressed by being given a new regulatory structure and that the new construction agency be given greater authority to see that all legalities are implemented.
The Chamber has also recommended increased investment in research and innovation.