Alternattiva Demokratika said this afternoon that instead of defending the Maltese passport, the Government was putting it up for sale with a price tag of €650,000.

Deputy chairman Carmel Cacopardo said the proposals approved by Parliament were objectionable because the commitment to invest in Malta on the part of those applying for economic citizenship was nominal, as well as due to the lack of transparency.

While AD recognised that improvements were made to the original proposal in regards to both the due diligence required as well as in the creation of the post of regulator, the fact remained that the economic citizenship offered by the Government was a threat to Malta’s reputation acquired throughout the years and which resulted in jobs associated with financial services.

“These may now be under threat,” he said.

Mr Cacopardo noted the position of the Opposition which emphasised that once re-elected to Government it would withdraw the economic citizenship and said the Opposition had not published the legal advice it was given to justify its position, just as the Government had not published the advice on the same matter from the Attorney General.

Mr Cacopardo said AD felt there a sufficient effort was not made to ensure that a solution beneficial to Malta was arrived at.

“Being of benefit to Malta does not only signify obtaining the means to a livelihood but also that this is carried out with respect to its dignity and reputation,” he said.