Finance Minister Tonio Fenech this morning accused Labour of having no plan to create jobs as he listed a number of schemes and incentives included in his party's electoral programme.

"You do not create jobs by hoisting up a flag," he said, with reference to Labour leader Joseph Muscat's speech on Sunday that a vote for Labour would ensure the Maltese flag was flown for the rest of time.

"All ministries already have a Maltese flag on top of them," said Mr Fenech.

Mr Fenech said Labour's manifesto had no new ideas for job creation and just promised continuity, in some cases with half-baked measures that gave businesses less of an incentive than was currently being given.

He quoted a Labour spokesman saying that Labour would do nothing to hinder the manufacturing industry.

"If that's all you're going to do, might as well stay in the Opposition," he said, stressing that this was not enough.

Challenged on the PN's growth projections, Mr Fenech said the European Commissions more cautious growth projections did not take into consideration the impact of new initiatives.

Asked why many business people had lost faith in PN despite its record, Mr Fenech acknowledged that many were disappointed by permits that were not handed out efficiently. He said PN could not promise permits that could not be issued.

Mr Fenech accused Labour of sending even written letters to say that particular permits would be issued.

"Labour will have to shoulder responsibility for this. If this is on what you are going to base your vote, it is your right. But Labour has deceived the business sector before," he said, underlining his conviction that Labour would mean unemployment.

The press conference, held at PN headquarters, was also addressed by Small Businesses Minister Jason Azzopardi who underscored the 20,000 new jobs created by the PN Government.