During his Budget 2023 reaction speech, Opposition and Nationalist Party leader Bernard Grech addressed Malta’s current financial situation and economic vision.
Grech explained that he cannot lay down the party’s vision without providing context of the country’s current financial situation, emphasising the near-€10 billion in national debt.
“Not that his predecessor did much better. The one before him left us with €5.7 billion in debt by the end of 2019”, Grech stated, referring to previous Prime Minister Joseph Muscat.
The PN leader went on to highlight how this legislature will see an accumulated sum of debt which exceeds that of all other finance Ministers, Nationalist and Labour, in Malta’s history combined… “and he admits this himself, according to his projections”, Grech stated.
With a pledge towards transparent politics, good governance and giving taxpayers what they deserve, Grech broke down a number of Nationalist Party economic proposals.
Amongst others, parts of the Nationalist Party’s vision include a reaffirmed belief in the 10 economic sectors, which were one of the pillars of the party’s manifest during the previous general election, assurance that the Cost of Living Adjustment (COLA) is not taxable, a National Fund to support local import and export industries and offering tax credits to employers to make sure they don’t increase prices to reconcile for the COLA.