Opposition leader Simon Busuttil slammed the 2015 for its lack of economic vision and information on the government's power station project.

Giving his initial reaction today, he argued that reducing energy tariffs is the easy part, the real challenge is in financing these reductions.

He said the government is not even capable of sticking to the "time frame" of a budget speech, let alone that of building a power station.

“There was a lot of talk but little substance. This was a budget which had the space to announce a footpath through Wied iz-Zurrieq yet failed to give a deadline for the completion of the power station,” he said.

Dr Busuttil said the budget lacks economic vision and ideas, and does not distribute wealth fairly.

The  58 cents COLA increase is ridiculous and can in no way be compensated by a one-off payment of €35, which will not be received by everyone, Dr Busuttil.

He said the €35 payment will not even fund a week’s worth of shopping.

Petrol and diesel prices will only go down by two cents and one cent respectively, while taxes on these have been increased.

He pointed out that petrol prices are higher than they were in 2010 when international prices were at a similar level.

He called the increase in the stipend given to students an "insult."

The increase will amount to two cents per day, and the government has increased the cost of sitting for exams.

On the government pledge to crackdown on welfare abuse, Dr Busuttil said such abuse  should be tackled on a daily basis and not just during the budget.

Asked what has become of the bailout Dr Busuttil had warned about prior to the 2013 election if the Labour Party was elected, Dr Busuttil said the economy is showing certain worrying symptoms which should not be ignored.

If he was presenting the budget, Dr Busuttil said he would have given a clearer vision as to where the country needs to go economically.

He said the budget as presented by the government still relies on sectors and industries created by the PN.

Asked by The Malta Independent whether he can draw any positives from the budget, Dr Busuttil said the PN welcomes the reduction in income tax.

He said he will be giving a more detailed reaction to the budget next week in Parliament.