Moody’s decision to downgrade Malta’s credit rating showed it was time to take harsh measures against those who evaded tax, and there was also need to control government spending, the FORUM group of trade unions said.
The group, which incorporates 11 trade unions, said it hoped Maltese citizens would not have to pay for the lowering of the country’s credit rating.
Earlier this week, Moody’s downgraded Malta’s foreign-currency and local-currency government bond ratings to A2 from A1 and revised the outlook to negative.
Finance Minister Tonio Fenech said the decision was “understandable” when one considered the economic situation in Europe, particularly the fact that some countries were going through a crisis. He said the upcoming Budget would include measures to address the national deficit and debt, Forum pointed out.
“We hope that it will not be the workers, the middle class and the most vulnerable who end up on the altar of sacrifice,” Forum said.
Forum, which has long been battling for a seat on the Malta Council for Economic and Social Development, appealed to the government to consult with all social partners on the subject.