This is one of those times of the year when people in general decide to switch off and indulge in their whims. No wonder it has been referred to as the silly season. On the eve of what is considered by many as the midsummer holiday, I would like to share with you my thoughts on two issues that, even if remotely, do have an economic dimension.

The first is the outcry there is about the petards that are let off during the Maltese festas, a series of events that number around 75, that take place in our towns and villages from the second Sunday after Easter till around mid-September.

There are several who believe that petards should be banned from our festas out of respect for those who are infirm and those who get greatly disturbed by the noise they let off. Probably such persons are correct in their thinking, but I would certainly not agree with those that want to ban petards because they do not appreciate them. There are a number of things that such people do and which are not appreciated by others. Still we have to bear with them.

Anyhow, let us assume for a moment that petards do get banned. Is it so silly to think that some of the appeal that feasts have, would disappear? Could it be that the real intention of those that want to ban petards is not really the removal of an inconvenience to the infirm, but some other ulterior motive? Could it be that those who want to ban petards are only after the dismantling of fireworks factories so that they could develop the land in the area? I do not believe that this is a silly question because this has happened in the past.

This is where the matter takes an economic dimension. Some people are not after having less noise but after profiteering from speculation on the land where the fireworks factories are located or the land from where the petards are let off. Moreover, it would certainly be very silly to ignore the economics of the Maltese festas because they generate a significant level of economic activity. One would only need to ask the manufacturers of beer or soft drinks what they would consider to be the economic impact on their enterprise should the Maltese festas lose their appeal.

Add to that the manufacturers, providers and sellers of a range of goods and services, from confectionery to ice cream, from clothes to beauty services. Add furthermore the monies paid out to the musicians forming part of village bands, the increased level of grocery sales at the time of the village festa, and the monies paid out to artisans for the manufacture or maintenance work done on street decorations such as statues and ornamental flags.

This is not to include the tours that are organised for tourists. I believe that the level of total expenditure related directly and indirectly to village festas could reach €10 million, which are spread out among a wide cross-section of the population. Can we be so silly as to take decisions that would reduce significantly this expenditure?

The second issue is the Valletta entrance project. I had mentioned this project three times before as part of my wishlist of New Year resolutions. We could argue till we all go blue in the face as to whether the opera house should be covered or not, or whether the parliamentary chambers should be housed in a building that is planned to be erected in Freedom Square, or whether we approve or disapprove of the Piano plans. However, is this the real issue?

I do not believe that it is silly to claim that the real issue is that we can no longer afford to have City Gate remaining in the shambles that it has been turned into by hawkers selling bread, shoes and what have you, by taxi drivers parked on the bridge leading to our capital city and by a car park that has invaded Republic Street. As long as the entrance into Valletta remains in the state that we have turned it into, we will continue sending the message to the rest of the world that we care very little about our heritage. The economy requires this project as part of the upgrading of the tourism product and as such has a very high economic significance for the country.

I do not believe that economic arguments should always win over social or political or environmental arguments. However, whenever as a country we have ignored the economic aspects of an issue, we have consistently lived to regret it.