The 19th day of the election campaign will go down in history as one that exposed how Malta’s wellbeing could be rocked, shaken and threatened in one single swoop.
The Malta Files that were uploaded across several European newspapers, including one in Malta, showed how what Malta has painstakingly built over many years could be attacked and negatively hit, literally overnight.
The publication of the files about Malta's tax regime and financial services sector, in the words of Prime Minister Joseph Muscat, was an “unprecedented attack”, although not a surprising one. The financial services sector is a main pillar of our economy and employs thousands, and it is no wonder that there is great concern about the seriousness of the matter.
The PM was correct to call for a united front to face an uphill road towards recovery. It would be wrong for the Nationalist Party not to show the same apprehension. Luckily, both sides of the political fence are on the same page in their determination to protect Malta’s interests.
Of course, there is then the political game, and being right in the middle of an election campaign, either side will try to take some form of political mileage. It has already happened, and it was rather predictable. But, once the election is over, there should be a concerted effort to restore faith, whoever is in government. After all, both sides take pride in saying that the financial services sector was constructed, bit by bit, with no opposition.
There will be some blaming of the other side. The PN is arguing that the Panama Papers scandal put the spotlight on Malta, also because the Prime Minister failed to take action against Konrad Mizzi and Keith Schembri, and continues to defend them right to this day. The PL, on the other hand, says that the PN is always giving Malta a bad name on the international stage each time it is in opposition, and this time is no exception.
What is true is that the PM should have handled the Panama Papers issue with better care, and he should have immediately dismissed his two closest allies. It is too late now to remedy the situation. His failure to take things seriously – and also his refusal to be questioned by the European Parliament’s PANA committee – sent the wrong signals.
Yesterday’s political activities were dominated with questions about the Malta Files, and the PM and Finance Minister did the right thing to specifically call a press conference to tackle the issue.
The PN’s earlier press conference had Simon Busuttil speak about the party’s pledges in the education sector, with the PN pledging to keep the Institute of Tourism Studies in St Julian’s irrespective of the outcome of the auditor general’s report on the transfer of land in St George’s Bay to the db Group.
The PN also took the opportunity of a Broadcasting Authority decision to once again attack the attitude of the Public Broadcasting Services in its reporting.
The Labour Party presented its candidates for the election, and in the evening pledged to give three years tax-free to companies who relocate to Gozo.
Alternattiva Demokratika approved its electoral manifesto and 10 candidates for the election.