The electorate needs to choose a government with a sound plan to further strengthen the economy, Prime Minister Lawrence Gonzi insisted yesterday during a business breakfast.
Diverging from the government's ambition to stabilise finances would be a disaster for the country because it would have a negative impact on investors who would think twice about investing under uncertain circumstances.
Reiterating his party's pledge to achieve a balanced budget by 2010 - which Alfred Sant has declared as not being a Labour government's top priority - Dr Gonzi said this goal would translate into the creation of more jobs.
He stressed the importance that Malta maintain, and continue to build on, the good reputation it has managed to achieve in the financial sector.
Dr Gonzi referred to the recently-published City of London Global Financial Centres Index report which identified Malta as one of the top three financial centres likely to gain more importance over the next two to three years. The island is also listed among the financial centres where operators could think of moving to over the next five years.
The adoption of the euro had opened new horizons and Malta was already reaping results. Success in this sector depended on a number of factors, including the ability to provide specialised human resources, make Malta attractive to foreigners, even environment-wise, and giving high importance to education. "I would much rather invest in education than use the money to halve the surcharge," he said.
Highlighting the importance of the financial sector, Dr Gonzi said his party wanted to see financial services account for a quarter of the gross domestic product by 2015, up from the present 12 per cent, increasing the number of employees from 6,000 to 10,000.
A PN government intended to boost the number of young people pursuing further education and, although this meant fewer people entering the workforce, it was an investment in the future. He highlighted the importance of making the most of human resources, mentioning the incentives to keep pensioners active.
The main parties did not have the same views when it came to financial services, Dr Gonzi emphasised, highlighting their difference of opinion on the 2010 surplus goal.
"He's got it all wrong again," he said, evidently referring to Dr Sant. "The two parties are worlds apart." Referring to the MLP's promise to halve the surcharge on water and electricity if elected, Dr Gonzi said it was shameful that on the eve of a general election there were thoughts of investing in an initiative which promoted wastage.
He mentioned the importance of improving administrative efficiency, retaining competitiveness when it comes to wages and eliminating red tape.
Labour's proposal of a reception class would mean that a year would come when there would be no supply of new workers, he said.
Dr Gonzi also highlighted the importance of monitoring the global economic situation, which could have an impact on Malta, including the price of oil and cereals and the US economy, "the engine of the global economy".
"It would be an illusion to think that this will not affect us," he said.