HSBC bank Malta has been named bank of the year in Malta for 2009 by the Financial Times monthly publication The Banker, for its performance and achievements. The bank’s CEO, Mr A Richards claims that “In spite of difficult trading conditions, HSBC Bank Malta has continued to deliver excellent results for its shareholders.”

The rate for VAT in the UK will revert to 17.5% as of 1 January 2010. Amid speculation that the small companies tax band would be increased to 22%, the current 21% will prevail throughout 2010 and this is not intended to be on the agenda for the April 2010 budget.