Joseph Muscat accused the Opposition leader of fiscal incompetence over remarks that EU funds could be used to finance pension increases proposed by the Nationalist Party.

The Labour leader was reacting to Simon Busuttil's remarks during a press conference yesterday as part of the Broadcasting Authority's political broadcasts. Dr Busuttil was asked how the PN’s proposals, including substantial pension increases and slashing taxation for the self-employed, would be financed.

Dr Muscat said he was surprised by Dr Busuttil's comments which showed his incompetence on economic and fiscal matters.

“EU funds cannot be used to finance pensions or recurrent expenditure; there is absolutely no way this could be done and the Opposition leader dos not know what he is saying,” Dr Muscat said, adding that the PN’s proposals would rack up a bill of €320 million that the country could not afford.

The Prime Minister was speaking at a press conference at the Vittoriosa waterfront, where he presented the PL’s proposals to help businesses flourish.

He was flanked by candidates Deborah Schembri and Aaron Farrugia.

Among the proposals in the manifesto, the PL is proposing a revision of rent law to obtain a better balance between the interests of tenants who are shop owners and landlords.

The PL is also pledging a number of fiscal incentives for companies in Gozo, which will also benefit from higher amounts from the micro-invest scheme.

A new Labour government will also offer incentives to companies that offer employees shares in the company.

On the European Commission’s country-specific proposals, Dr Muscat said the criticism levelled towards the financial services regulator was that it needed to increase its capacity to keep up with the growing sector.

“This was a recommendation made to other countries as well… but the Commission also asked three countries to do more about corruption and Malta was not one of them,” he said, anticipating, with a smile, the next question from a NET TV journalist.

 

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