Malta’s downgrade by credit agency Standard and Poor’s should be taken as a first warning that with Joseph Muscat in power, Malta would be taking a gamble and risking the stability of its finances, Prime Minister Lawrence Gonzi said last night.

We need to also secure the things we hold most dear

Addressing an electoral campaign activity in the main square of Vittoriosa, a Labour stronghold, Dr Gonzi said that for every action there was a reaction and Dr Muscat’s decision not to join the Government in voting for Budget 2013 had led to the lowering of Malta’s credit rating.

“We had warned Muscat before the budget that once he agreed with its contents he should have voted for it. He chose his party over the country and now we have the result.”

Dr Gonzi warned the wrong choice at the election would put Muscat in a position to continue to make wrong choices for the country to the detriment of the people’s well-being and of more investment in education, health and well-paid jobs.

“With us everyone knows that the country moves forward and that we are synonymous with certainty and sound finances. With Muscat it’s a risk not worth taking,” he said.

Citing Labour’s energy proposal as just one example of Muscat’s bad choices, he said that if implemented the project would result in a new power station the country did not need and a big hole in the country’s finances.

The PN would issue its own proposals “at the opportune time”, showing how more investment could be made in the energy sector without damaging the economy.

Despite the emphasis on the power rates, the electorate must keep in mind that this was just another of several important issues, Dr Gonzi said.

“We need to also secure the things we hold most dear: work, education and health.”

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