The Nationalist Party yesterday unveiled its economic vision for the next decade, launching a working document aimed at starting a debate on the concretisation of its economic electoral programme.
Economy shadow minister Claudio Grech, the brains behind the document called ‘An economy for the people’, said it was not a finite operating plan or a dogma but a working paper aimed at serving as a canvas for the political process shaping the PN’s policy delivery plan.
PN leader Simon Busuttil said the party was not attracted by an economy that was intended to transform Malta into a playground for the rich but one in which knowledge, innovation and entrepreneurship were given equal if not more importance to personal wealth.
“My economic aspirations are derived from the ambition to create an indigenous economic environment which secures a bright and prosperous future for our children and their children,” Dr Busuttil said.
The document is based on five core horizontal drivers, which are then translated into 145 measures outlining how the PN’s vision would be implemented.
Covering the wide-ranging aspects of the local economy, the document sets principles based on where Malta wants to go, ranging from economic growth to the environment, infrastructure and the digital economy.
The economy is one in which knowledge,innovation and entrepreneurship are given equal if not more importance to personal wealth
Acknowledging that the economy was producing wealth, Mr Grech said the PN was not sure such wealth was reaching all those participating in the economy.
He said that while in certain areas, particularly gaming, financial services and property development, the economy was delivering the goods, other areas, such as the manufacturing industry, needed a complete rethink.
He said Malta could not continue to depend on an attractive tax regime or on low-paying jobs to attract foreign investment. Malta had to improve substantially its level of productivity, attract more high-value-added industries and become more efficient.
Mr Grech said the PN did not agree that the economy should continue to be boosted by high government spending or by more people put on the State payroll.
In the party’s vision, the government should have a role whereby it would enable, regulate lightly and ensure fairness, while allowing private enterprise to be the prime mover.
Asked to say why the PN was releasing the document more than two years away from an election, Mr Grech said the party wanted a thorough debate before it could make its final proposals.
The PN would be happy if the government were to take on some of its economic ideas, Mr Grech said.
The 20 policy priorities
• Boosting national productivity levels
• Accelerating labour force participation
• Engineering high-value-added niches
• Entrenching responsible land and energy utilisation
• A paradigm shift in construction and property development
• A world-class infrastructure for a regional business beacon
• Spearheading global economic connectivity
• A next-generation economic connectivity
• Inculcating passion for science and technology philosophy
• Leveraging ICTs to establish Malta as a global gateway
• A playground for the future urban environment
• Embracing value-added to re-invent manufacturing
• Realising the regional logistics powerhouse vision
• Expanding access to finance for productivity and innovation
• Trusted Malta: a safe, secure, stable and fair jurisdiction
• A world class business district
• An exceptionally liveable destination
• Extrapolating professional legacy into profession clusters
• Sparking the social enterprise revolution
• Shifting public services to enable efficient enterprise