The budget speech delivered yesterday evening by Prof Edward Scicluna, Minister for Finance is extensively covered this morning in the printed newspapers. All carry detailed reports, tables, figures, analysis and comparisons to help their readers come to their own conclusions.Yesterday evening different news web-portals reported in-real-time the budget speech while most of the radio and television stationschanged their weekly programmes schedule and included a discussion programme about the budget. These continued till late in the evening. The objective and less objective debates and discussions will continue this morning.
Please bear with me, I cannot comment on the budget measures as yet as I am writing well before the minister had his early breakfast yesterday morning. What I pen here is an imaginary account of the minister on budget day. Budget day is a long eventful day for the minister.I am almost certain that his English breakfast includedextra portions of grilled rashers of bacon and sausages and scrambled eggs in addition to a larger bowl of cereals soaked in fresh milk. No doubt he had a steady flow of hot coffee. A fulfilling breakfast should help the minister,labour for longer hours. The minister had to skip lunch and instead had a quick biteas he was alerted to changes in his speech by the script writers very late in the morning.
The minister would on budget day needs to look fresh and at his best. He needs to inspire viewers and listeners and assure everyone that all is falling into place and on target. The minister will have a fresh haircut wear a well ironed shirt, a new suit and a matching tie.
Few minutes before the House resumes with the daily business he arrives at the House and walks briskly accompanied by his advisors towards the Office of the President of Malta in the same building.Agood sized crowd of journalists, photographers and camerapersonswait for his arrival at the entrance of the House.At times the minister is discreetly directed by his public relations officerto displayprominently the briefcase,at others he is directed to walk slowly for the media personnel covering the event to catch up with him.Throughout the walkabout he will be escorted by the Speaker of the House. That was the stage managed part before the budget speech yesterday.
Today, as you read,it is a totally different ball game. The budget is all about your wallet, your purse, your present challenges and your future opportunities.The real substance of the budget speech rests on the measures, incentives and initiatives aimed at creating wealth. The national budget is more than a book-keeping exercise. It is a tool which should direct funds towards the most vulnerable while new funds and energiesare released and targeted towards attracting new business opportunities in a diversified and dynamic economy.It is about creating wealth, new productive employment opportunities, higher purchasing power and better quality of life.
The past weeks must have been very hectic for those working at the ministry of finance.Making ends meet without influencing negatively the economy is no easy task. This becomes more of a headache for the minister and his advisors as the international and EU economic and fiscal parameters are rather tight to fit in. The Ministerstrives to fine-tunethe budget measures with the hope that the new measures will create the much needed economic growth.
Though writing well before the budget speech I am certain the minister would state that Budget for 2015 reflects the government overriding concerns. He promises steady improvements in the standard of living of every citizen.The minister would even state that Government focus will remain on accelerating economic growth and social development, with continued emphasis on economic stability while preserving the conditions that are conducive to attract foreign direct investment, expanding and upgrading physical infrastructure, expanding access and improving the quality of social services, and strengthening the institutional and regulatory environment.
The steady growth that has been achieved in our economy, and the marked improvement in key social indicators across our country, must not be taken for granted he warned.
Today, while you read and sip yourcoffee you can draw your own conclusions.However, rightly so, people are looking for a good rate of return on theirinvestments today.Indeed it would be sad if toomany people have failed to read the small print on the electoral prospectus.