More than half say last year’s Budget measures had no impact on household finances – survey

More than half of respondents (54.4 per cent) to a survey said that measures introduced through last year’s Budget made no noticeable difference to their household finances.

Marketing Advisory Services' ‘National Budget Priorities & Household Finances in Malta’ survey was carried out between 18th September and 11th October, and gathered responses from 362 people.

The survey found that, where an effect of last year’s measures was felt on household finances, more often it was positive.

34.2 per cent said the measures made things better (8 per cent considerably, 26.2 per cent slightly). 6.4 per cent said they made things worse. A further 1.7 per cent are not aware of the measures and 3.3 per cent said they did not know.

The data shows that respondents aged 65 and over were twice as likely as those under 45 to say the Budget improved their finances (53.9 per cent vs. 25.7 per cent). Of those aged 45-64, 31.2 per cent said the measures made their household finances better.

The results found that household circumstances show an even sharper divide. Almost half of those who comfortably cover their expenses and save (45.3 per cent) felt better off, compared with 16.7 per cent of those who struggle, it found. “Hardly any of the comfortable group (less than 1 per cent) felt worse off, against 10.9 per cent of those with little left over and 14.8 per cent of those who struggle.”