The General Workers Union categorically denies that it ever walked out of meetings that were to discuss reform to the COLA mechanism.
Referring to comments made by PN spokesman Tonio Fenech, the GWU said it was never against reforming the COLA mechanism to reflect the reality so much so that for many years, even during Nationalist Administrations, it insisted for a revision of the mechanism mainly that COLA adjustment be six-monthly and not annually as is at present and also for a revision of the basket by which the Retail Price Index is measured.
The GWU said that a sub committee within the MCESD chaired by economist Dr. Gordon Cordina prepared a report regarding the revision of the COLA mechanism. Although that report had a basis for agreement between the social partners, Tonio Fenech who at that time was minister responsible for finance shelved the report as he did with others presented to him including one on energy.
Moreover, Tonio Fenech is not credible when he speaks about COLA and therefore cannot be taken seriously in what he is stating on this issue, the GWU said.