MLP calls for economic plan

Labour finance spokesman Charles Mangion has claimed that Malta's euro adoption could raise the cost of living.

Over the past years, he said, the government had not been able to curb inflation in medicine, food and essential services prices.

The Labour spokesman said there was a great need for sustainable government finances and increased competitiveness in general, criticising the government for having balanced the books by selling the country's assets.

Increasing competitiveness entailed reducing taxation and reducing bureaucracy, Dr Mangion said, even though this was not happening under the present administration.

Malta, he said, had the highest tax burden in the EU last year, while bureaucracy and corruption in the administration were rampant.

For the country to benefit from the adoption of the euro, the government had to set out a plan for economic development in all sectors.

The consumer had to be empowered so that all existing structures to control prices worked properly for the benefit of families, Dr Mangion added.