MEP Prof. Edward Scicluna has represented the Labour Party in a high-level meeting of economic experts organised by the pan-European Party of European Socialists (PES).
The expert group is finalising the policy document entitled Pact for Growth and Jobs in Europe, which will be presented by centre-left prime ministers and leaders at the eurozone crisis summit on 28 June.
Each member state has nominated a national expert to represent their party. The pact includes a series of policy proposals aimed at tackling youth unemployment and kick-starting the European economy, with particular focus on renewing European industry and innovation.
Prof Scicluna said: “From the start of this crisis, our group in the European Parliament had made it clear that without growth we will not be able to reduce debt and deficit levels. Conservative leaders across Europe are now belatedly realising that an economic diet consisting solely of spending cuts is plunging the European economy into a deep and sustained recession. Even Malta can declare it is technically in a recession due to a fall in its GDP in the last two successive quarters.
“This growth and jobs pact is clear – we need an employment pact that prioritises selective public investment to make our industries and businesses as competitive and innovative as possible.”
One of the proposals discussed was a European Youth Guarantee to combat youth unemployment and a European Employment Pact to offer incentives to encourage businesses to create jobs. Prof. Scicluna proposed a number of useful amendments, especially regarding the youth guarantee in the light of the positive feedback to the Labour Party’s own Youth Pledge that would guarantee the right to every young person in Malta to be in education, training or employment.
Referring to this, Prof Scicluna said: The Labour Party’s Youth Guarantee is a perfect example of a policy to be followed in other EU countries. With unemployment in the EU being at its highest level for many years, particularly among young people, we must take all possible steps to ensure that we do not leave a whole generation on the scrapheap”.