Malta Labour Party leadership hopeful Michael Falzon yesterday said that in today’s day and age, any government needed to treat the private sector as a partner in the quest to create wealth and growth of a country’s economy.
Dr Falzon was speaking during a meeting with the leadership of the Malta Employers’ Association in Valletta.
The Labour MP said that governments have a duty to ensure that the best possible conditions are created to allow employers to invest, create jobs, income “and profits of course”.
He said that today, much wealth is created by the private sector and that one needed a sound base on which to build in order to generate more wealth.
Dr Falzon said: “It is obvious that the government cannot renounce its role as a regulator of the economy, but at the same time, it is necessary for more awareness of the fact that the private sector’s role in keeping the cogs of the economy turning is increasing.”
He said that in view of this, the Malta Labour Party did and still does believe that cutting down on red tape is essential, coupled with removing unnecessary burdens that can stifle economic activity. “We must also ensure that in an economy as small as Malta’s decisions taken to address a certain issue will not have a negative effect on another sector of the economy that could be linked to it,” he said.
Dr Falzon said it was essential to ensure sustainability in all that is done in the country, while at the same time looking at the issue of competitiveness. In addition, he said, in today’s globalised world, one needed to make sure that the country is pro-active rather than reactive. “When we react to things, it is often too late and the measures adopted are often half-baked. We should be more pro-active,” said Dr Falzon. He said that the government had an important role as regulator, especially in the drive to strike a balance between growth, progress and social justice. “We need to all be partners and not competitors in this small country,” he said.
Dr Falzon also said that one needed to look at the issue of wages against inflation, adding that people should be paid what they deserved, but at the same time ensuring the viability and competitiveness of business. He also said that it was very easy to meet and talk, as he was doing yesterday, but that this was useless unless people listened to each other and took each other’s ideas and concerns on board.
MEA president Pierre Fava presented Dr Falzon with a copy of a memorandum the MEA had sent to the political parties prior to March’s general election, saying that the issues highlighted – sustainability, competitiveness and pro-activity – were still valid. Dr Falzon agreed with the MEA and said that he paid the visit yesterday in the spirit of good dialogue and consultation, “something which I pledge will be one of the pillars of the MLP under my leadership”.