Doubts voiced about Labour’s economic credentials have been silenced, with unemployment at a record low and Malta experiencing high economic growth, Prime Minister Joseph Muscat said yesterday.
“Contrary to the PN’s predictions that with a Labour government Malta would end up being bailed out by the EU, the reality is that next year we will have the third largest economic growth,” Dr Muscat said during an interview on the Labour Party’s radio station.
On the other hand, he challenged the PN to publish its accounts for the last 25 years, saying he could not understand how the party was in financial crisis despite the several millions raised from its members throughout the years.
Simon Busuttil is out of his depth on finances and the energy sector
Opposition leader Simon Busuttil had no credibility when speaking about finances or the energy sector, Dr Muscat said.
He was “out of his depth” on these issues as he relied completely on the advice of others.
The next budget, said Dr Muscat, would be the second step in the implementation of Labour’s “roadmap” for the country.
It would contain an unprecedented number of measures intended to have the public sector and private entities work together.
Nevertheless, he warned it would be a mistake to adopt the approach taken by PN administrations – that everything was plain sailing.
“These positive trends mean nothing to those who have been looking for a job for months, and as a progressive movement we need to support society’s most vulnerable.”
For low-income families, he said, the 58 cents weekly wage increase set to be announced in the Budget would not be enough and so additional measures would be taken. However, he again excluded meddling with the cost-of-living allowance mechanism.
On the issue of energy, he said the interconnector with Sicily would be up and running at the beginning of next year.
The project had been delayed as the previous administration had not obtained the necessary planning permits from the Italian authorities.
He also touched on the government’s plans to convert electricity generation from heavy fuel oil to gas.
Initially, the Delimara power station would be supplied by a permanently moored tanker but eventually this would be replaced by a Malta-Sicily gas pipeline, he said.
“If this project is feasible we estimate that it will be operational in five to seven years’ time,” he said.
He could not understand Dr Busuttil’s criticism of the plans to have a regasification unit.
This facility would ensure security of supply in case the pipeline is damaged, as repairs would take weeks to carry out.
“We cannot risk leaving the country with no power for such a long period and so a regasification unit would make it possible to supply gas by means of a tanker.”