The government keeps saying that Malta will receive EUR855 million from the EU over the next seven years.

This however is the gross figure. The net figure, after deducting what we must pay, is far less.

An exercise based on what the government itself shows in the Budget estimates demonstrates that, subject to certain matters, Malta will be receiving in 2008, between Lm12 to Lm24 million – not Lm52 million (EUR855 divided by seven years divided by 2.33 exchange rate) that the government keeps quoting.