Tancred Tabone, president of the Malta Chamber of Commerce, Enterprise and Industry has called on the country’s political leaders to focus on the right priorities and not to be distracted by issues which are “strictly local”.
In a statement Mr Tabone said: “Further to the vote of confidence in Parliament, business expects our political leaders to re-focus on the right priorities and not become too distracted by issues which are strictly local. Of course the public transport reform is important but we must also recognise that the international economic situation requires our full attention and more.”
Mr Tabone said the country needs to focus on the issues at hand, particularly in the light of the economy’s vulnerability to the turmoil that continues to surround us.
“What continues to take place in Greece and indeed the current events in Italy are a stark reminder that international instability has become the norm and that the economic scenario is changing on a daily basis.”
The Chamber president said it is a generally recognised fact that Malta has, so far, withstood recent storms well enough but Parliament and political leaders must not allow any further distractions upon themselves.
“We would be foolish to allow ourselves to fall into some kind of comfort zone wherein we start to believe that we are immune to all that is happening around us,” he said.
Mr Tabone said that unlike many of our neighbouring countries, Malta faring well in a number of economic sectors. He said this is largely due to some key structural reforms that have taken place over the years and to an enterprising private sector. It is also due to the responsible behaviour of the social partners in general.
“The Malta Chamber would like to remind our political leaders that during the brief period of recession a considerable number of employers went through significant hardships to safeguard jobs and protect human capital. There is however no guarantee that these same employers will be able to do so again.
“The situation is an extremely delicate one and we must, act carefully to ensure that we do not to create a crisis when one does not exist. This is very important in a world of fickle markets increasingly driven more by sentiment then reason,” he said.
Mr Tabone said the country needs to concentrate its efforts on ensuring economic growth and stability.
“The government will next week present the 2012 Budget during which it is expected to lay out its plans to reign in public finances while at the same time tackling critical issues such as the restructuring of Air Malta and rising fuel costs. The Malta Chamber also expects the government to introduce measures that will continue to attract foreign investment while also enhancing our national competitiveness. Raising tax levels or introducing new taxes during 2012 are not an option.”
Mr Tabone repeated an appeal he made earlier this year: “Let us get back to business. Our country boasts a resilient and dynamic private sector, one which is well capable of creating wealth and prosperity for Malta. The private sector, however, needs the entire country to pull in the same direction. We must ensure our country prevails over the global situation. The whole country will benefit if we unite and concentrate on business. Otherwise, we will all stand to lose,” he said.