Maltastar
Point 1 – The Budget For 2003
The budget is as predictable as next Christmas falling on the 25th December. If anybody wants to know the general timbre and orientation of the coming budget one need only read the budget for 1996 i.e the last nationalist budget before Labour was elected.
The budget is as predictable as next Christmas falling on the 25th December. If anybody wants to know the general timbre and orientation of the coming budget one need only read the budget for 1996 i.e the last nationalist budget before Labour was elected.
This will very probably be the last budget before the general election. It is certainly the last budget before the referendum. The Minister is known to paint the figures away from reality to suit his political necessities.
If any proof of this was needed see just how Lm21 million ordinary revenue have been created out of thin air through structured sale and leaseback of the airport terminal building to MIA. Further proof is the Lm15 million, going up to Lm60 million, being borrowed from APS Bank by Foundation for Tomorrow Schools offering a front to finance out of budget social capital expenditure which can only be serviced and repaid from the Consolidated Fund.
Can anyone who plays around with figures like this be really trusted with pre-election budget figures for which he will only account after the election?
If any proof of this was needed see just how Lm21 million ordinary revenue have been created out of thin air through structured sale and leaseback of the airport terminal building to MIA. Further proof is the Lm15 million, going up to Lm60 million, being borrowed from APS Bank by Foundation for Tomorrow Schools offering a front to finance out of budget social capital expenditure which can only be serviced and repaid from the Consolidated Fund.
Can anyone who plays around with figures like this be really trusted with pre-election budget figures for which he will only account after the election?
“At least if the MLP does not increase the financial offer (and history is on Labour’s side in this respect) we would preserve the Italian Financial Protocol, which will be lost through membership, and will preserve our sovereignty rather than give it away for free.”
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In the budget for 1996 the Minister had projected an overall year end deficit of Lm39 million and revenues of Lm110 million from VAT which was to be in its second full year of operation. This was Lm30 million increase over the revised VAT figure for 1995. The actual result for 1996 was a budget deficit of Lm112 million in spite of capital expenditure being Lm16 million less than originally budgeted. VAT receipts rather then the invented and unsupported figure of Lm110 million came in just at Lm79 million and evidence shows that the Lm110 million was personally inflated by the Minister against the advice of the department. In reality the first time VAT receipts exceeded Lm110 million was in 2001 – five years after the Minister had projected it – after extending the tax base to telephone, petrol and diesel and after removing tax refunds from practically all sectors including health, education and financial services.
So don’t be surprised – the budget will be full of tax benefits with ceilings being increased to pull back the punches that the middle class received in the last four budgets. It will be full of talk of how well the economy is doing and it will mysteriously show that the deficit is bound to reduce further. Never forget, however, that the real figures will have to wait till after the election, as happened in 1996.
It will be a scandal.
Point 2 – The Sunday English Papers
If any proof was needed that the editorial policy of the Sunday english media (and not just that) is playing under the direction of Castille one just has to read the two editorials of yesterday in The Sunday Times and The Malta Independent on Sunday.
So don’t be surprised – the budget will be full of tax benefits with ceilings being increased to pull back the punches that the middle class received in the last four budgets. It will be full of talk of how well the economy is doing and it will mysteriously show that the deficit is bound to reduce further. Never forget, however, that the real figures will have to wait till after the election, as happened in 1996.
It will be a scandal.
Point 2 – The Sunday English Papers
If any proof was needed that the editorial policy of the Sunday english media (and not just that) is playing under the direction of Castille one just has to read the two editorials of yesterday in The Sunday Times and The Malta Independent on Sunday.
They both argued that EU membership was the only option available to us and this irrespective of its costs and consequences. They made strenuous effort in playing down the meaning of clear promises of Partnership offers by the main political factions represented in the European Parliament and in the draft constitution document proposed by the Convention of Giscard d’Estaing.
The Sunday Times title ‘Happy With The Crumbs!’ instead of being addressed to the government who seems happy even with the pittance the EU is offering compared to the Lm100 million they had expected, addressed it to the MLP claiming, with the usual rhetoric, that out of membership we will only be left with the crumbs.
How can we have less crumbs than what the PN are getting?
At least if the MLP does not increase the financial offer (and history is on Labour’s side in this respect) we would preserve the Italian Financial Protocol, which will be lost through membership, and will preserve our sovereignty rather than give it away for free.
Experience shows that our geo-strategic position and our neutrality can be used in negotiations for economic benefits which can in no way be termed crumbs.
But the prize for mediocrity and unpatriotic pen goes to the editor of The Malta Independent on Sunday who in his editorial ‘The choice: membership or non-membership’ declared that ‘Malta
Even if this were so, in negotiations if you don’t have bargaining chips at least you have to pretend that you have them as nothing is presented on a silver platter. If you present yourself with no alternative you will be given the flushing chain. But writing off what we unquestionably have is scandalous. So let me repeat in big and bold caps.MALTA
The proclamation by the editor of The Malta Independent on Sunday is scandalous. On whose side is he?
Point 3 – Money for The Roads
Minister Dalli told his supporters during the supposed budget consultation meeting that he is declaring that the investment needed for up-grading our road system is coming from the Italian Financial Protocol and the Funds from the EU. He challenged Labour to declare from where they will fund the road up-grading out of EU membership.
The man is unbelievable! His listeners must be all idiotic not to challenge such assertions. The Italian Financial Protocol is there only because Labour negotiated it in the 80’s thanks to our policy of neutrality. It will be withdrawn the moment we join the EU as the Italians will shift such responsibility on the EU budget. The EU funds (grants that is) is in the Minister’s imagination.
Labour will fund the road improvement from the same sources Mr Minister. The Italian Financial Protocol will continue to be renewed out of EU membership and we will negotiate similar deals with other countries who benefit from our neutrality. From the EU we will get out of membership five times more than whatever net you get in membership just as in 1971 Mintoff got five times more than what Borg Olivier had negotiated.
The Minister’s warping of the truth is scandalous. And after all in the last 15 years of PN administration we spend enough on our roads to have them gilded at the edges. But as always it is not how much you spend but how carefully you spend it.
The Sunday Times title ‘Happy With The Crumbs!’ instead of being addressed to the government who seems happy even with the pittance the EU is offering compared to the Lm100 million they had expected, addressed it to the MLP claiming, with the usual rhetoric, that out of membership we will only be left with the crumbs.
How can we have less crumbs than what the PN are getting?
At least if the MLP does not increase the financial offer (and history is on Labour’s side in this respect) we would preserve the Italian Financial Protocol, which will be lost through membership, and will preserve our sovereignty rather than give it away for free.
Experience shows that our geo-strategic position and our neutrality can be used in negotiations for economic benefits which can in no way be termed crumbs.
But the prize for mediocrity and unpatriotic pen goes to the editor of The Malta Independent on Sunday who in his editorial ‘The choice: membership or non-membership’ declared that ‘
Even if this were so, in negotiations if you don’t have bargaining chips at least you have to pretend that you have them as nothing is presented on a silver platter. If you present yourself with no alternative you will be given the flushing chain. But writing off what we unquestionably have is scandalous. So let me repeat in big and bold caps.
The proclamation by the editor of The Malta Independent on Sunday is scandalous. On whose side is he?
Point 3 – Money for The Roads
Minister Dalli told his supporters during the supposed budget consultation meeting that he is declaring that the investment needed for up-grading our road system is coming from the Italian Financial Protocol and the Funds from the EU. He challenged Labour to declare from where they will fund the road up-grading out of EU membership.
The man is unbelievable! His listeners must be all idiotic not to challenge such assertions. The Italian Financial Protocol is there only because Labour negotiated it in the 80’s thanks to our policy of neutrality. It will be withdrawn the moment we join the EU as the Italians will shift such responsibility on the EU budget. The EU funds (grants that is) is in the Minister’s imagination.
Labour will fund the road improvement from the same sources Mr Minister. The Italian Financial Protocol will continue to be renewed out of EU membership and we will negotiate similar deals with other countries who benefit from our neutrality. From the EU we will get out of membership five times more than whatever net you get in membership just as in 1971 Mintoff got five times more than what Borg Olivier had negotiated.
The Minister’s warping of the truth is scandalous. And after all in the last 15 years of PN administration we spend enough on our roads to have them gilded at the edges. But as always it is not how much you spend but how carefully you spend it.
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