The Labour Party is building on proposals already made by Government and claiming they are its own ideas, Finance Minister Tonio Fenech said.

Speaking about the PL proposal to introduce a final withholding tax of 15 per cent on rental property, Mr Fenech said that in the Budget 2013 proposals Government had merged this incentive with the renovation of property, especially in urban conservation areas.

“This just goes to show that the Opposition has nothing new to offer,” he said.

He added that the Government had removed the permanent residency scheme because it was being abused. It had, however, introduced other incentives for foreigners buying property in Malta. The PL said it will be revising the scheme since it did not work.

The ministerwas speaking during a visit to three-star hotel, Milano Due, in Sliema. The hotel has undergone refurbishment that included the installations of energy efficient systems.

As a result the hotel has seen its energy bills slashed by more than half. The hotel also benefited from a Malta Enterprise scheme that subsided part of the interest it paid on the €500,000 loan taken to undergo the refurbishment.

Tourism Minister Mario de Marco said the best way for the country to address the energy challenge was by helping the private sector opt for alternative energy and investing to be more efficient in its consumption.