Construction magnate Nazzareno Vassallo is standing by his statement that he has given money to both major political parties following a denial by Labour leader Joseph Muscat on Monday.

“It’s not the first time the Leader of the Opposition has been given the wrong information... I ask him to meet me privately so I can show him,” Mr Vassallo said, replying to questions by the Labour media after a business breakfast marking 65 years of the Vassallo Group.

Dr Muscat denied on television the statement made to The Sunday Times by Mr Vassallo, a former Nationalist mayor of Mosta, that over the past 40 years he had “been asked for donations by both parties and helped both equally”.

Dr Muscat said during Inkontri on One TV: “Żaren Vassallo never gave a penny to the Labour Party in the past three years. He neither gave nor was he asked to and I’m informed that in the previous administration he did not give either, so I don’t know who he’s speaking to or who he’s giving donations to.”

Asked to confirm whether donations to the PL were made during this legislature, Mr Vassallo said he had never said that but that during the 40 years he had been at the helm of the company he had been approached by clubs, mayors, councils and candidates for help.

Mr Vassallo is a prominent figure in Mosta and honorary president of about 12 organisations in the town.

A party spokesman said Labour stood by Dr Muscat’s remarks, that the party had “never” received any donations from Mr Vassallo. He accused Mr Vassallo of “changing his version” by now speaking about a period of 44 years and indicating that donations may have been made to party clubs, candidates or mayors.

During the business breakfast, the Parliamentary Secretary for Small Businesses, Jason Azzopardi said the government would be launching an ongoing study into small and medium enterprises in conjunction with the Sociology Department at the University to better inform government policy.