According to Prime Minister Lawrence Gonzi, for the next seven years, the EU has made available (not given) €1.128 billion to Malta. During the same period, Malta is bound to pay €501 million towards the EU budget. This means a balance of €627 million in Malta’s favour, or €89.57 million per year.

And this will happen if Malta makes use of the entire amount. This government’s track record to date does not lead us to expect that, if re-elected, it will be able to use the entire amount of funds available to Malta. In fact, from 2007 up to October 2012, it has only been able to use €278 million while paying to the EU €306.7 million, up to the end of 2011. These figures were provided by the European Commission to Labour MEP Edward Scicluna and were never contested by the Government.

What does not appear here is the cost of EU membership as reported by the international organisation Open Europe, which has calculated that it is costing the Maltese government €72.5 million a year to introduce and implement EU regulations, a further expense of about €507 million, thus leaving a balance of just €17.04 million a year!

What does not appear here, too, are the €1.5 billion which Malta is guaranteeing and paying for the bailout fund and to protect the euro.

Of course, it could have been much worse.

What is needed now is to make sure that, on March 9, voters elect a government that can guarantee seriousness and responsibility, together with having the right priorities on how to use the funds available.

They cannot trust Gonzi and his crew with the responsibility of administering the finances of our country wisely and responsibly.