It is a given. Most of the small or large projects and business ventures originate from a hunch but the term “cost-benefit analysis” is the process by which new business premonitions are analysed. The benefits from a proposed business activity are added and then the costs associated with taking such action are subtracted.  The result will show whether any proposed business activity is viable and worth taking calculated risks.  

Some months ago our Government pledged to commission economic and social impact assessments tailor-made for his plans and actions. Undeniably, this was a first and was warmly welcomed and supported by most of the national economic and social players.  Having an economic and social measuring tool, evaluating the potential costs and revenues that may be generated from Government planned projects is to be applauded.

The results of the analysis should be the main criteria directing us to pursue all feasible projects, but if the hunch fails the test this should be dropped and buried unless adjusted to be economically and socially just. Government’s lack of vision and strategy, pushing shoddy initiatives and indecisiveness are the poorest forms of leadership qualities leading to exorbitant costs and loss of credibility.

The Individual Investor Programme piloted by Government is a telling story. This piece of legislation was not put to the test and no economic and social impact assessment was commissioned. The social partners point of view was not sought either.      

Following a very short debate in Parliament between our honourable ladies and gentlemen, no comprise could be sought.  Government was in no mode to take counsel and did not budge from its position.  The Opposition made it amply clear that it was whole-heartedly against the selling of our citizenship. The adjectives used by the Opposition Members left nothing to cloak the indecent proposal and shortly after the IIP was exhibited for all to see. The general public took note of the implications and signified his disapproval at the indecent proposal and outright rejected the move by Government.     

Notwithstanding the strong public opposition, the indecent proposal was in haste successfully pushed through all the stages in Parliament and soon after the President of Malta endorsed the enabling law under review and thus brought our citizenship up for grabs subject to a fee of €650,000.

The strong stand by the Opposition side in Parliament and elsewhere, the polls, the surveys and the silent protest by face painted youths were not enough to stop Government from accomplishing his objective. The sale of our citizenship is a priority to our Government.

Simultaneously well organised constituted bodies, The Malta Employers’ Association and the Chamber of Commerce issued separate strongly worded press statements clearly signifying their concerns about the implementation of the Individual Investor Programme.  Within the highest echelons of Government and consultants those unequivocal statements should have served as eye openers. The two organisations represent a wide range of small, large, local and foreign entrepreneurs and have a very close relationship with their wide audience and therefore their statements are not politically motivated but business and employment inspired. Alternattiva Demokrattika and pressure groups gave their views on this issue also. All concerned and negative.

Notwithstanding this barrage, Government sailed on with its secret economic weapon until Malta was negatively hit by a world-wide wave of bad publicity. Respectable international web-portals posted on their front pages the sale of our citizenship. The line of thought was and still is wide-ranging but all projected a negative image of Malta. Government was quick to point its finger at the Opposition for this world-wide negative re-action.  The party in Opposition has nothing to do with this.

Government should have noticed that the PN, MEA, CoC, AD, participants in surveys, face painted protesters and former MLP leading personalities, the local public outcry were honestly and seriously trying to voice their serious concerns.  

Government cannot blame anyone for this negative world-wide reaction except itself and stubborn mind-set. It has been tried and tested many times.  It is clear to many now hard headedness will only lead to a cockup.     

Unfortunately Government failed to differentiate between the sound and honest counsel and the local political patronage intended to score points.  This has led to a free fall in Malta’s credibility ratings.  It is not the credentials of our Government which are at stake on the international level but the credentials and identity of Malta which are now being perceived less favourably.  This will have long-term negative impact and its toll may well reach our places of work.          

To further compound matters the ink signifying the ratification of the IIP had not even dried when Government, under huge international bad publicity, indicated its intention to amend the same IIP by repealing the secrecy clause. It is sad to see our Government to be dragged into a situation which raised more serious questions than it solved.         

While it is true that Government has a very comfortably safety net of a nine seats majority in Parliament it is injudicious of Government to ignore the counsel from the rest of society.  At this late hour the Prime Minister should find the courage and privately invite the Leader of the Opposition with the purpose to find a solution to the present IIP at the very earliest to curtail further international damage to Malta.  Going back to the drawing board, our political class can draft a new piece of legislation which takes into account recommendations from interested constituted bodies’ making all Maltese citizens, irrespective of their political creed, proud with our citizenship while inviting foreign investors to our shores creating new employment opportunities.

This should send a strong message to the international media to restore the bad publicity our Islands were subjected to during the past days.

In my opinion this should not mean or be interpreted as a sign of weakness, on the contrary it would be a feather in the cap for Government, a strong sign of willingness to change, adjust and adapt skilfully in the best interest of these Islands. 

The national interest is not and should not be perceived a Government monopoly. The Individual Investor Programme is considered by many as the first serious of tests of this legislature.  In this light Government, before soldiering further needs to stop and consult to ensure that the IIP purposes are met.   

The sale of our national citizenship for a fee, whatever the figure, is despicable.  The respect and credibility which Malta enjoys should not be wiped out by a stroke of a pen. Government is duty bound to reflect the aspirations of citizens.  Let’s hope for the best. 

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