Politicians hijacking economic debate - economist
Politicians have hijacked the economic debate and very few understand what is really happening in the job market, according to economist Joe Vella Bonnici.
He said the country lacked proper economic analysis and lamented the fact that economists who spoke publicly were immediately labelled as Nationalist or Labour.
"We have one side boasting about 20,000 new jobs and the other side questioning this," he said, referring to a recent political controversy.
Mr Vella Bonnici was speaking at a seminar this morning titled For Jobs and Solidarity in Europe, No to Austerity organized by the GWU and the two trade union groupings CMTU and Forum.
Mr Vella Bonnici said mapping out a future direction for job creation had to start from a serious analysis of the current situation.
"We have to go back to basics and this means a proper evaluation of our education system. We cannot have a system where some 40 per cent of students leave school without skills," he said, adding it will increasingly be difficult to find jobs that pay well for these people.
He also urged for better planning, insisting that it made little sense to invest in a life science park without having workers with the right skills. "There are barely 10 workers, who could work in this sector," he said.
Mr Vella Bonnici cautioned on over dependence on the i-gaming sector, which could easily pack up its bags and leave if other jurisdictions offered better advantages.
He said the country had to know where it wanted to go and how it planned to arrive there but more importantly it had to understand the current set up.
There was a future for the manufacturing industry, he added, citing examples of European countries that had a strong manufacturing base. He said there was also scope for encouraging a strong home-grown industrial base that worked in clusters to reduce costs.
The conference is ongoing.
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Joe Grech
Nov 14th 2012, 20:05
I read what Joe Vella Bonnici said and agreed completely with him. Then I had a look at the Comments and saw that some commentators had attacked him remorselssly. His great sin seems to be that his political inclinations is different from their own!!!
Our country is split in two with political agendas distorting our common sense and holding us back. Pity....
Joe Sammut
Nov 14th 2012, 19:20
I think Joe Vella Bonnici is not a qualified economist.
Can we know what his qualifications are? If I’m not mistaken he’s got a BA in economics.Does that give him enough clout?
Joe Vella Bonnici is a PL activist, in other words a politician.Doesn’t this qualify him to be one of the hijackers of our economy?
Halluna!
Mr Kevin Zammit
Nov 14th 2012, 13:11
"Mr Vella Bonnici cautioned on over dependence on the i-gaming sector, which could easily pack up its bags and leave if other jurisdictions offered better advantages."
Finally! Someone is finally saying in public what all in IT know very well. May I add to that the on the job experience gained in such an environment is not easily transferable to other sectors. Malta needs more diversification.
George Calleja
Nov 14th 2012, 12:31
Mr.Vella Bonnici's advises should be directed at his own party as Joseph Muscat is refusing to reveal his plans in many sectors. Each day that passes is a waste of time because things could easily be modified to reach the desired effects. It's useless talking without acting. Mhux Gonzi biss ipacpac...anki JM u shabu jaghmlu l-istess!!
Nicholas Borg
Nov 14th 2012, 11:53
Should you not have mentioned the fact that Joe Vella Bonnici contested for the post of General Secretary in the Labour Party? Does not this fact also mean that his opinion on the country's economic situation cannot be considered to be unbiased? He is after all part of the "other side".
victor bonello
Nov 14th 2012, 11:52
some sensible talk not just political trash!
Please choose the reason of your report below: