Wednesday, 30th April 2008 - 12:22CET

MLP calls for plan to rein in prices

The Labour Party today urged the government to come up with an action plan to rein in inflation - repeating a call made a few days ago by the GWU.

The party said official statistics showed that inflation had risen sharply in March, even though the price stability agreements were still in force.

The MLP complained that price increases had hit essential items, with the cost of living in March rising at the second highest rate since the beginning of 2005. While inflation was rising abroad as well, the growth rate in Malta was faster, the MLP observed.

It welcomed the fact that the Malta Council for Economic and Social Development would be discussing the cost of living in the coming weeks, and said the government needed to go before the council with an action plan to ease the pressure on the people's purchasing power.

That way Malta would avoid a repetition of what happened in December, when the MCESD held another such meeting without the government revealing anything of what it intended doing.

The party said it was calling for proper protection for consumers and fair competition.

Comments

Peter Cremona (1 week, 6 days ago)

Are you related to Arthur Daley the Minder?, Don't know where you got your figures from, however, I am 100% certain that the ones you have quoted are incorrect, all you have to do is check via Goggle. Benefits might be better in the UK, however, Malta still is much cheaper to reside in that the UK and also remember that in Malta we don't pay the dreaded Council Tax , a three bedroom house will set one back at least £187.00 monthly. Calculating on these figures, one will conclude that anyone on an average salary struggles to survive, let alone live in comfort that the majority do in Malta. I suggest you go and live there, like I did, and find out for yourself the difference of way of living we have in Malta compared to UK and other European countries.

A Daley (2 weeks ago)

The average wage in UK is Stg£31,750 and over Stg£ 32,000 after the reduction of tax from 22% to 20% starting this year. That is excluding the ones that earn over Stg£150,000. who happen to be in their hundreds of thousands. How about say, a Bank Manager? or a Chief executive, or say a nurse, or maybe a teacher, or someone in IT!
Average salary of Stg£12,000, you say!
The minimum wage in UK is Stg£12,251.20 a year on a 40 hour week.
While you're at it, why not mention the disability living allowances, child benefits, and the ones on Social Services etc. as well?
The only thing better then the UK and that we still have in Malta (so far) is the 2/3 pension introduced by Labour Govts.

Peter Cremona (2 weeks, 1 day ago)

And what about those on the average salary of £12k- £18 yearly dear A Daley, aren't they human as well?, I'm sure that the one on an average salary outnumbers the ones on higher salaries.

Francis Farrugia (2 weeks, 1 day ago)

All those who refer to the spiralling prices due to more costly cereals and other imported products are absolutely right. But there is a solution, and this is the responsibility of the Government. Raise the salaries. There was a time under the much criticized Labour governments when salaries increased by the pounds and not cents per week.

A Daley (2 weeks, 1 day ago)

And so is the disposable income, dear Peter Cremona. Example:
Maltese doctor salary (eventually) Lm23,000 = Stg£37,720
British doctor in NHS now (not private) Stg100,000 = Lm 60,975
Taste the difference!

Peter Cremona (2 weeks, 1 day ago)

Food price increases is something that is happening around the world, lets consider ourselves lucky that we are not paying the same as the UK for their fuel, lead petrol is now £1.10p a litre whilst diesel has shot up to £1.20p a litre. Salaries might be higher but so is cost of living.

danny attard (2 weeks, 1 day ago)

Fair competition means competition where market forces are alive and well. Unfair competition is when other realities such as monopolies that come in many shapes and form, apply. These monopolies apply to a number of sectors, example medicines. There are also instances when supply is kept artificially low so that prices may remain high. And so on and so forth...

William Gatt (2 weeks, 1 day ago)

P.S - you might want to refer to yesterday's article regarding the Commission for Fair Trading and it's verdict ...

Andrea Farrugia (2 weeks, 1 day ago)

instead of issuing Press releases like pastizzi, the MLP laughing boy had better concentrate on the why the MLP lost the General elections.

A Daley (2 weeks, 1 day ago)

What certain people cannot get through their head which is constantly buried in sand, is that the Maltese pay packet is too low when compared with other EU countries. Now is there another way of cushioning the blow of higher prices? Yes there is, and just to give you two examples that would still be in convergence with the EU and with the FREE market concept are, increase in salaries and a hefty one at that and the other is a drastic reduction in the hundreds of taxes that we have been burdened with during these last 5 years.
The economy is strong isn't it? Right then, go ahead and do it!
The truth is though, the Govt. has little room to manoeuvre because its' finances are in a very bad state indeed!
The next budget will have increase in deficit, increase in National Debt and increase in servicing the Debt. We will even have over 60% in National Debt vis a' vis our GDP and that's more then the EU allows us to have! Wait for it! I have a feeling someone is going to mention Italy!

Adrian Cardona (2 weeks, 1 day ago)

Talk is cheap isn't it....
If world prices on wheat and dairy products have increased sharply, not much can be done.

C. Scerri (2 weeks, 1 day ago)

As usual trying to score cheap points. The major factors are the high price of cereals and fuel prices - contrary to other countries, Malta is totally dependent on importation for these two commodities and thus the inflation rate is higher than the rest of World.

William Gatt (2 weeks, 1 day ago)

And what does the MLP understand by 'fair competition'? If price increases reflect changes in fundamental value, then that increase is justified and also fair. This is a free market after all.

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Article © Allied Newspapers Ltd., printed on Friday, May 16, 2008. This article is for personal use only, and should not be distributed.

MLP calls for plan to rein in prices

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