Political party funding has been on the country’s agenda for quite some time, although little has been done other than a public debate which erupts every now and then before fizzling out.

The issue has come out in the open once again this week. Following a recommendation by Nationalist Party secretary-general Joe Saliba, Prime Minister Lawrence Gonzi announced that the Cabinet of Ministers is to discuss a set of regulations that would address political party financing. Once approved, the matter will move to a parliamentary committee set up to specifically tackle the matter.

The opposition will be heavily involved in discussing the regulations, and there are already signs that the Malta Labour Party does not oppose the idea and is willing to cooperate. So far so good.

Why this subject has been brought up again on the eve of an election is anyone’s guess. But party political financing has been a thorn in our political system for decades and it is about time that matters are regulated. It remains to be seen whether the parties will agree in the short term or whether the argument will be put on the back burner, yet again.

There is no doubt that, like any organisation, political parties need money to operate, and loads of it too. Their expenses have greatly increased over the years, and this largely because of their running of radio and television stations, which drain their coffers. Yet, no party can today afford to stay without its own media, living as we are in an age of communications where messages must be delivered – and fast too.

Like any other constituted body, political parties should be made to declare their accounts – from where they are getting their revenue and how this money is being spent too. Political parties speak a lot about the need of transparency, and therefore by publishing their accounts, the parties would be practising what they are preaching.

Of course, any regulations that are laid down – and we are sure that both major political parties will be scrutinising each other once everything is in place – must be followed to the letter. It would be pointless to go through so much trouble to create a system that is then not adhered to.

There are many laws that have been enacted and yet are not implemented, for various reasons. In this case, such regulations need to be followed, and the parties know that apart from their political opponents, there will be others who will be looking into their financial matters, and with great attention too.

As such, the regulations that will be drawn up must be as comprehensive as possible, allowing little room for interpretation and if possible leaving no loopholes through which the parties will be able to escape public scrutiny.

Every effort should be made to remove the doubts that have been sowed in the way political parties operate financially. The people should be able to have more trust in how political parties make their money. Whether such regulations will eliminate “friends of friends” innuendos each time a contract is awarded is altogether another matter, but at least such a system will enable the people to know more.

Another question that needs to be seen to in all this is whether the new system will allow for party funding from the State. This is another topic of great controversy that has never been resolved. Again, both parties will need to tread carefully in their discussions and, if it is decided that the plan should go ahead, the way State funds are handed out to political parties would need equal, if not better, scrutiny.