In an interview held by Times of Malta, Finance Minister Clyde Caruana recently discussed the Labour Party’s unexpected loss of over 30,000 votes in the MEP and local council elections, attributing it to a shift in public sentiment and higher vote turnout. He drew parallels to past governments that lost favour despite economic successes, emphasizing the need for Labour to implement real changes to regain support.
Caruana highlighted Malta’s reliance on labour-intensive investment for economic growth and the urgent need to shift towards more capital-intensive, value-added sectors. He acknowledged the challenges in changing the economic model but stressed the importance of upskilling the workforce to improve productivity and quality of life.
In this interview with Times of Malta, Clyde Caruana expressed confidence in meeting EU reduction targets without resorting to austerity measures. He also defended the decision to issue 270,000 cheques during the election campaign, arguing that it provided targeted financial support.
He criticized the undue influence of the construction industry and called for a clear separation between politics and construction, He also discussed Malta’s issues with cartels, attributing them to the small market size and emphasising the need for regulatory vigilance.
Finance Minister Clyde Caruana dismissed the rumours about his political ambitions, stating his focus remains on contributing to Malta’s development rather than seeking higher office.
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