Clearly eager to contradict a remark made by Anton Borg, president of the Chamber of Commerce, Enterprise and Industry, about the impact lack of transparency could have on the economy, Prime Minister Joseph Muscat pointed out that businesses do not invest in corrupt countries and that investment had, in fact, been attracted to Malta and was still being attracted.

Had he had advance knowledge of the latest EU-wide survey, Dr Muscat would have, no doubt, added that, to boot, the study, just published, shows that business optimism was at its highest. This is, of course, splendid news but does it justify his apparent attempt to downplay rising national concern over lack of transparency and corruption? It should most definitely not, more so when this is considered against the other hard fact that, according to Transparency International’s latest findings, Malta has dropped 10 places in its corruption perception index.

In contrast with the EU’s splendid survey findings on Malta’s business sentiment, Malta’s sharp drop in Transparency International’s corruption perception index is most damaging to the island’s reputation and the Prime Minister will be burying his head in the sand if he ignores it. It seems that, although Joseph Muscat has admitted “mistakes” over a number of government actions, he believes his administration has done no wrong on the transparency front. This, of course, flies in the face of the country’s direct experience over the past four years.

Equally disconcerting in this respect is the audacity Finance Minister Edward Scicluna showed in his admonition to the Nationalist Party about making promises that are not doable. Wild statements on minimum wage and energy would only cause instability, he pontificated, warning that the “race to the bottom politics” would only result in unsustainable proposals.

What’s wrong in buying fuel from the cheapest sources available, as the Nationalist Party is proposing?

Income inequality may very well be the fourth lowest in the EU but the thousands still finding it difficult to cope with the rising cost of living and, in quite a number of new cases, with the rising rents too, will find very little consolation in the ranking.

It is Labour that has been racing to the bottom in politics through its sheer arrogance in the way it has been handling key national concerns over the sharp deterioration in governing standards. Disregarding, or playing down, national concerns, as Dr Muscat is doing, will not make them go away.

The Chamber’s president’s views, shared by the outgoing president of the Malta Employers’ Association, Arthur Muscat, might not have been music to the Prime Minister’s ears but it would do the country or the Labour Party no good for Dr Muscat to ignore the concerns of those who are in the forefront of the development process.

The business community, remarked Mr Borg, feared the country was regressing in terms of transparency and the integrity of the institutions. He did not say that the country was not attracting new investment, as the Prime Minister seemed to have interpreted his remarks, only that the government was regressing in transparency.

The timely warning given by the heads of two of the country’s most important organisations ought to be heeded, not ignored, as the government seems to be doing.

Thank God, the damage done to the island’s reputation is not big enough as yet to discourage foreign investors from coming to Malta. However, Dr Muscat and his government would be foolish to think they can keep ignoring such national concerns all the time.