Local bank deposits at the end of last year reached a record €9 billion, an increase of 10.1 per cent over the previous year, the government said quoting Central Bank figures.

It said this meant that Maltese families had saved  €831 million more than in 2013.

This increase, it observed, took place in a year when consumption had increased. This was the year when the number of licensed vehicles increased by 19,212, or 23% more than in the last year of the previous administration.

Imports of consumables reached almost €1.1 billion, an increase of 6% over 2012 and according to Eurostat, in 2014 retail trade was up 4,4% from the previous year when the eurozone average growth was 2.7%.

The government said the Central Bank figures of deposits contradicted the Opposition's claim that there was pressure on salaries and families were seeing their situation deteriorating.  

The government also pointed to measures such as reduced electricity and water tariffs and a drop, a drop in income tax and free childcare as benefiting families.