Only the Labour Party has the “competence, credibility, and experience” required to keep Malta’s economy going in such a manner that it can sustain measures like tax cuts and energy subsidies, Prime Minister Robert Abela said on Sunday.
Abela was interviewed on party media and he placed significant emphasis on the PL’s latest political line that only it has the credentials to lead Malta’s economy in such a manner that it can sustain all the measures that are up on offer to the people so far.
He reflected on the outcomes and experience from an informal summit of EU leaders held in Cyprus in the past week, saying that the global situation today may well turn out to be the “new normality” that we must all get used to.
The Prime Minister emphasised on the importance of the energy sector and said that no other country in the European Union has been capable of doing what Malta is doing – ergo, subsidising energy costs to keep prices stable: not because they do not want to, but because their economy and finances do not allow for it.
“Are these subsidies sustainable, or are they short-lived like others said? It depends on who is leading. It is completely dependent on how capable you are of leading the economy and the country’s finances,” Abela said.
“Our past is the literal guarantee for our future,” he said of the Labour Party government, adding that it had made fuel prices 7c per litre cheaper during a global pandemic and kept energy prices stable since 2013.
He also said that he was continually “fascinated” by the “thirst and enthusiasm” for reform that his Cabinet and MPs have. “It’s typical that after a certain number of years at the helm, the rhythm starts to slow – but we are the opposite: we are always trying to reform,” he said.
Abela cited the IVF reform done within 100 days of being elected and the more recent Living Will reforms, which had bi-partisan backing, as examples of this. He also cited upcoming reforms on social media access for youths as another area of reform. “I don’t want draconian laws – balance is key: our children can use social media, yes, but we cannot let them be controlled and manipulated by it,” he said of this planned reform.
On transport, Abela spoke about the Malta in Motion plan which was unveiled in the past week. The plan includes a €2.8 billion metro line together with emphasis on increased integration between different modes of transport.
“We need to see that the project is adapted to our country’s realities,” Abela said.
He said that this is why Arup had been engaged, and he added that its first plans – which envisioned a wider metro network which would have cost somewhere along the lines of €6 billion – were adapted to reflect the realities of the country as time went by.
Abela praised Finance Minister Clyde Caruana who in an interview published on Sunday said that he would only sign off on the project if he believed it would be financially viable, with the Prime Minister saying that this is the sign of a credible government which speaks honesty.
Abela added that he was pleased at the feedback on the plan was very positive, save for that from the usual naysayers within the Nationalist Party.
He referred to other things, noting how the planned race track at Hal Far will be a “jewel” for motorsport enthusiasts, and said that 140 collective agreements worth €2 billion in salary increases alone have been signed by the Labour administration.
“As long as you have a team of people who can attract investment to the country and has fiscal competence, these things remain sustainable,” he said.
“This country’s economy is behaving in a way which is completely different to every other country. Is it luck? Not at all. Do we have anything special? The talent of our people, the resilience of our private sector, and the way we take our political decisions,” he said, as he criticised the politics of austerity.
He said that the PN says it wants to keep a subsidy “which it doesn’t believe in” and which it doesn’t have the ability to keep. “They are a cacophony: consistently inconsistent,” he said.
