Budget in the red – Dr Bernard Grech Leader of the Opposition

On Monday 24th October we all followed closely the Government’s supposed plan for our country. An economic plan, awaited with much anticipation, which did not meet any of the bombastic expectations laid out by the Finance Minister himself.

The latter had to provide Maltese businesses with a reassuring model, capable enough to prevent the collapse of our economy, at a point where the world is facing heartwrenching turmoil. Unfortunately, what was proposed by the Minister is nothing more than a mere continuation of a failed economic plan which has led the country to the brink of an infrastructural catastrophe. Caruana’s economic policy, described as a blunder by himself, has been solely based on the erratic augmentation of the population. However, Clyde Caruana has yet again missed the opportunity to provide us with a more sustainable model.

This Government’s lack of execution and action has led to a haemmorhage, which is showing no signs of stopping, of younger generations who are seeking fresher ventures and opportunities beyond our shores. Inflation has hit hard on commerce, and while it continues to grow, the Government is not doing much to alleviate the burden. Instead it has continued to waste and fork out money on useless propaganda and corrupt contracts. This means that businesses have been once again left alone to deal with the hefty prices. At least, Minister Clyde Caruana did rise to the occasion to realise that having a red briefcase was more fitting to contain a document which is indeed putting us all in the red. To make matters worse, this Socialist Government has shown that they are hesitant to diminish bureaucracy, thus making the situation increasingly stagnant at a time of crisis.

Their only solution lies in increasing debt without providing any solutions on how to control it. As the Opposition, we do welcome the subsidies which will cushion the effects of a persistant energy crisis. However the government is still engaged in nauseous populism in order to try and score some political points by taking advantage of Europe’s wary situation, not to mention the doubtable figures issued by the Government denoting the deficit and recurring expenditure. The Opposition has been highlighting the fact for months on end that our nation as a whole is experiencing a degeneration in the quality of life. This degeneration has led to an increase in crime and, to make matters worse, this administration has decided to implement budget cuts to the bodies who are responsible for the maintaining of public order. It is a well known fact that investment gets deterred when governments become lenient in the face of crime and injustice. A Government which leaves its citizens in the red.

On the matter of poor strategies and solutions, or lack thereof, this Budget has seen more budget cuts and a lack of capital investment in vital sectors such as health and tourism. As an Opposition, we find it highly appalling to have a Government who splurges €80 million to Vitals, rather than properly investing in today’s and tomorrow’s doctors, nurses and caregivers. The tourism sector, which proves to be a substantial chunk of Malta’s GDP, has seen some budget cuts, while no direction or at least a plan was provided on one of the most important channels of the industry, Air Malta. Air Malta has been left in the red. Other issues which continue to weigh down on the population, and its quality of life, such as the everlasting traffic jams, the suffocating pollution and skyrocketing property prices are there to stay, with no imminent or long-term solutions. Our quality of life has been put in the red.

Times of instability and unrest create a domino effect which contribute to recessions and downturns. It is therefore imperative to have a government which can operate on scale and speed, and to be able to gestate on both the macro and the micro level while looking for short, mid and long-term solutions. This Budget was truly a missed opportunity for the Government to transform its studies and talk into concrete action. n

“On the matter of poor strategies and solutions, or lack thereof, this Budget has seen more budget cuts and a lack of capital investment in vital sectors such as health and tourism."