Many moons ago, the PN government wished to develop financial services as a sector of economic activity in Malta. I was among the sceptics fearing that such a development would transform Malta into a money laundering centre. I was assured this would not happen. The Nationalist government intended to put in place a strict and transparent regulatory system. It needed the cooperation of the Labour Opposition to really build a genuine and robust legal framework. I let myself be convinced.
Financial services prospered extremely well since then. They now account for some 20 per cent of the economy, on which also piggybacks the internet gaming sector, which covers over 10 per cent of the economy. For good or for bad, between them the two sectors have become the prime engine of our growth.
From the Opposition today, the PN – or at least that part of it which considers it has lost all chance to run the country again in the future, no matter who is in government – has mobilised to attack financial services in Malta. They’re being described as a method that helps the present government commit abuses right across the line.
Tremendous damage is being done. Following years of austerity measures that were underwritten by all sides, it results from the urge of European politicians to show that they truly are defending the public interest. Countries which provide financial services are being portrayed as the collaborators of wealthy citizens and big companies who/which simply desire to not pay their tax dues.
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Dual nationality
For many years, we toed and froed over the question as to how and why we should introduce dual nationality for Maltese emigrants in Australia. Today, there is a free access for Maltese of the first and second generations to opt for dual nationality.
During those years of debate over the question as to whether we should introduce it or not, I admit I did not know that federal Australian law prohibits people with dual citizenship from assuming an elective parliamentary role. This prohibition is at present fuelling a political crisis in Australia.
So it seems that when we were extending dual citizenship to the descendants of Maltese emigrants there, we were also impeding them from at any time acceding to the major political positions in the country.
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Oxfam
The Oxfam shop I liked best in Brussels was one where you could spend time hunting for old books – that at least was my aim going there. Others would visit to look for used clothes and shoes plus a whole range of bric à brac. By contrast with other Oxfam shops in Belgium, this shop of “mine” was less than chic and disorganised. It was badly lit, with all items on sale jumbled up or quite, while books, old toys and shoes were squashed together. These arrangements made the shop fascinating.
Someone decided that “my” Oxfam was out of line. It was closed over the summer, given a makeover and reopened recently. I went to see what had been done with it.
I found it had become bright, well ordered, spick and span, like other Oxfam shops you see in Belgian towns. I don’t think I’ll visit any more.