The government was increasing its recurrent expenditure at an alarming rate despite knowing full well that revenue could not keep up, Opposition deputy leader Mario de Marco said this evening. 

Speaking in parliament, Dr de Marco said the International Monetary Fund had already advised Malta to lower its expenditure last year, with the government having a €350 million shortfall in projected revenue since coming to power. 

Dr de Marco slammed the government for its euphoria about a credit rating upgrade by Standard & Poor's, all while transparency and meritocracy fell by the wayside. 

He said increases in excise duty, which in 2016 is expected to reach double what it was in 2012, were anti-social and repressive, and opposed not only by the Opposition but also by the Chamber of Commerce and the GRTU. 

National debt had grown by some €1 billion over the past four years and now stood at €700 per family - what did the government have to show for this increase, Dr de Marco asked. 

Dr de Marco said the financial sector – which contributed 12 per cent to the GDP and employed 10,000 workers – was under pressure. He offered the government the Opposition’s cooperation in fighting tax harmonisation plans put forward by the European Commission.