Minister within the Office of the Prime Minister Konrad Mizzi today insisted he was never going to deposit $1 million annually in any offshore accounts and reports to the contrary were "lies".

For the second time in as many days, the Times of Malta tried to ask Dr Mizzi how he had intended to generate the $1 million in annual deposits for an account his financial advisers Nexia BT tried to open for his Panama company.

Emails in the Panama Papers show how Nexia BT gave the go-ahead to Mossack Fonseca to open up a bank account for Dr Mizzi’s company which would have required annual deposits of close to $1 million.

WATCH: Minister hurls abuse at Times of Malta reporter 

Since the Panama scandal broke last year, Dr Mizzi has always refused to answer how he intended to fund these deposits given his asset base.

The minister's 2014 tax returns show €51,672 in income from his government salary, and €21,543 in rental income. His wife Sai earned €34,052.

Earlier this week he attacked the credibility of a Times of Malta reporter who attempted to ask about the provenance of the money, today, he simply said he had answered questions about this with a tax audit. There had never been any mention of a million euros, he said, adding that accusations that he would fund this himself were untrue.