Finance Minister Tonio Fenech yesterday accused Labour of being in a state of confusion with no idea of how much its electoral proposals cost.
Speaking at the Nationalist Party headquarters in Pietà, he criticised the Labour Party for not providing any economic projections, contrary to the PN’s thorough explanation of how much each proposal would cost and targets of when the country would reach a balanced Budget and surplus.
Instead, Labour based itself on figures from the International Monetary Fund and the EU, which only covered 2014 and 2015, without giving an estimate for 2016 and 2017.
Mr Fenech said there was “nothing new” in Labour’s plan. Most proposals had been implemented by the Government, proposed in the Budget or written in the PN’s electoral programme. The others either did not make sense or were impossible to implement, such as one that pledged to give more State aid to businesses than what EU law permitted.
Showing a series of lengthy excerpts from Thursday’s Bondìplus interview with Labour’s manifesto author Karmenu Vella, Mr Fenech said there was huge confusion. “What was Mr Vella coordinating in the manifesto? The printing?” he asked.
Labour’s electoral programme was full of “nice words” without saying how it would create jobs or boost economic growth.
Mr Fenech said it was significant Labour’s manifesto removed the pledge that its proposed power station would be concluded in two years. Nor did it include its real cost.
Mr Fenech denied Labour’s accusation that there were mistakes in his presentation on the PN’s cost of its electoral programme.
He said his party had published all its workings, which could be challenged. Labour only gave a short presentation that was not even given to Net journalists, he said.
Asked about the PN’s pledge to cut government spending by two per cent, he said this could be done in every sector after an expenditure review that would remove inefficiencies while retaining all workers and services.
Mr Fenech said Labour’s plan to maintain a deficit by 2017 would reduce Malta’s credibility when its economy was being closely scrutinised.
Labour had said the deficit would stand at 0.5 per cent by 2017 to enable it to realistically move towards a surplus. Iy also argued the PN’s proposal to reach a surplus by then was impossible and Mr Fenech was not credible as he always missed his own targets.
However, Mr Fenech said the Government had not met its original targets to reach a surplus during this legislature because it had to fund a stimulus package during the economic crisis.
Fielding questions, Mr Fenech said it was shameful that the General Workers’ Union’s general secretary, Tony Zarb, had not quit following a leaked recording in which he is heard making controversial comments. This was the worst case he remembered in trade union history, he said, adding it was shameful that Labour was protecting Mr Zarb.