PN sees Labour 'detached from reality'

The Nationalist Party has accused Labour of being detached from reality after it said in a statement today that ordinary families were not feeling the economic rebound which the government was boasting about. The PN said the current economic situation...

The PN said the current economic situation called for cautious optimism. The global financial and economic crisis swept across the world at an alarming speed bringing to their knees strong economies and large corporations, wreaking havoc with hundreds of thousands of workers losing their jobs.

Malta , being part of the world, felt the pinch but the economy showed resilience and contrary to what happened elsewhere the results were not catastrophic as some, especially Labour, expected them to be.

The PN said that over 2,500 threatened jobs were saved and more than 7,000 created in 2009.

Malta had also seen an increase of 35% in exports, an increase of 4% in GDP, an increase of 11% in tourist arrivals, an increase in industrial production and a drop of more than € 50m in government’s deficit .

There was also an increase of 3,700 people in employment in the past year, according to the latest Labour Force Survey, and a decrease of 500 people registering for work with Malta now having one of the lowest unemployment rates in Europe.

"Certainly, more needs to be done and the effects of this economic recovery need to percolate further in people’s pockets, but the situation is definitely not bleak and there is no need for the doom and gloom which Labour repeats ad nausea," the PN said.

"The current economic situation calls for cautious optimism – sound government policies, a resilient economy and a capable workforce contrast sharply with Labour’s detachment from reality.

PN sees Labour 'detached from reality'

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