Malta would be aiming to balance its public finances by 2015, Prime Minister Lawrence Gonzi said yesterday morning after touring the Mosta market on the campaign trail.

Dr Gonzi said that while the PN in government had managed to reduce the budget deficit for the past four years, through its energy proposals Labour would reverse the trend and the country’s economy would again grind to a halt.

“This is not the first time that Labour has promised one thing and done the opposite when in government. We are warning that Labour’s energy proposal is so amateurish that it will create a new hole in the finances if implemented.”

He said if the country continued in its current steady course it would balance its budget for the first time in 2015.

The PN in government, he said, was synonymous with economic growth and job creation but Labour had always been bad for business.

The latest energy proposal showed that Labour had already miscalculated by more than €200 million to implement its promise to reduce water and energy tariffs and this would drive the country to the wall.

According to the PN leader, Labour has already admitted that building an LNG storage and re-gasification terminal instead of a pipeline is the wrong choice. So now it was stating that it would also build the pipeline, Dr Gonzi said.

“They are so amateurish and superficial that in a week they changed their plans. They have to choose what they want and not base their projects on populism. You can’t have a pipeline and an LNG terminal at the same time.

“Where is the money coming from and is this sustainable for a small island?” he asked.

The PN would soon give details on its next step in the energy sector. “We want to reduce tariffs in a sustainable manner. We propose only what the country can afford.”

On taxes, Dr Gonzi said that according to recent EU statistics, Malta’s tax burden was among the lowest in the EU.

He said results spoke for themselves and while the Government reduced taxes it provided incentives for more people to work.

Malta had a historic record when it came to the number of people gainfully occupied, which surpassed the 150,000 mark, while 44 per cent of the female population was also employed.

These records showed the country was moving in the right direction.