PL Submit 2024 Audited Accounts As PN Insist Its Own Will Be Published Soon

The Labour Party has officially presented its audited accounts for 2024 to the Electoral Commission, showing a significant financial swing from a surplus in 2023 to a seven-figure loss last year.

According to the audited report submitted on Thursday, Labour ended 2024 with a €1,098,777 deficit, compared to a €400,290 surplus the previous year. The sharp reversal is largely attributed to the 2024 MEP and local council elections, with campaign spending reaching almost €1.6 million, making up more than half of the party’s total €3 million expenditure.

The audited report, endorsed last month by delegates at Labour’s Annual General Conference and reviewed by Grant Thornton, was presented at the Electoral Commission’s Naxxar offices by a delegation led by Party President Alex Sciberras. The document was published on the Commission’s website shortly after.

Sciberras said the submission shows Labour’s continued commitment to transparency, responsibility, and adherence to annual accountability obligations, contrasting Labour’s consistent filings with the Nationalist Party, which has not published its audited accounts for the last five years.

The filing immediately renewed pressure on the PN, particularly in light of Alex Borg’s pledge to publish the party’s long-overdue accounts within his first 100 days as leader.

Reacting to coverage of Labour’s submission, Simon Mizzi, the PN’s Chair of Leadership Delivery and a key figure in Borg’s leadership team, insisted the PN will keep its promise. “Read my lips. They will be published,” Mizzi wrote, with the party now 18 days away from Borg’s self-imposed deadline.

In a recent interview with MaltaDaily COO and Editor Keane Cutajar, Borg reiterated that the PN’s audited accounts would be made public within the first 100 days of his leadership, counting from 8th September.

#MaltaDaily