Former Labour minister Joe Grima has suggested the setting up of what he called a Business Recovery Bank to help sectors of the economy get back on their feet after financial difficulties.

Writing on his Facebook page, Mr Grima said that the idea to help the cinema sector as announced by the government on Thursday should be the first of a series of initiatives aimed to give a helping hand to other areas of our economy.

The principle, he said, is stupendous, but cinemas are not the largest sector that collapsed under the weight of expenses brought about by the previous administrations, largely through the water and electricity bills. It is only one sector in difficulty but there are others that generate more income to the economy, and this includes the tourism sector, restaurants, clubs and entertainment establishments which have been devastated, he writes. This is particularly so in Gozo.

Mr Grima said that before the election he suggested a business recovery programme or, better, a Business Recovery Bank through which the government gives soft loans to industry and establishments to help them get back on their feet.

He said the suggestion he made had been welcomed, but it has been put aside after Labour was elected to power. “The people I spoke to are not responsible (for the sector). New people bring in other new people with them, some of whom are born deaf and sometimes blind.”

The consequence of not helping out businesses in difficulty is leading many of them to die a natural death. A cut in the price of energy services will help, but it is not enough for businesses who “now need a surgeon, not a family doctor” to take care of them.

He said he believes the European Union has programmes similar to those he is suggesting, and which can be applied to Malta.