Tourism Minister Edward Zammit Lewis said today that the Labour government is not excluding the possibility that loopholes in legislation regarding the funding of political parties are addressed to counter the Nationalist Party Loan Scheme.
The Nationalist Party introduced a loan scheme to raise funds for the party, an idea that has been criticized by Labour, with PL exponents arguing that the scheme is based on a loophole in the party financing law.
Addressing a press conference, the Minister said that, with a number of people who are at the heart of the PN being mentioned in the Panama Papers, there is mounting concern about the legality of the PN loan scheme.
Repeating what was said on Thursday by Minister Chris Cardona, Dr Zammit Lewis asked whether people mentioned in the Panama Papers will be donating money to the PN.
PL Deputy Leader hopeful, Stefan Zrinzo Azzopardi, said the Panama Papers mentioned people within the PN who once occupied high posts, including directorships and ambassadorial posts.
Dr Zrinzo Azzopardi said people who participated in two no confidence motions and attended two anti-corruption protests never once stepped forward prior to Monday’s Panama Papers publishing to say that they had offshore interests.
In a statement, the Nationalist Party said the PL Government desperation is worsening day after day. The real scandal at the moment, the statement said, is the fact that OPM Head of Staff Keith Schembri and no-portfolio minister Konrad Mizzi opened secret companies in Panama.
With the final aim to dispel accusations of illicit practices, the PN reiterated that the loan scheme is being done legally with great success. The loans are being done by contract with money coming from local banks using procedures which are wide open to the authorities’ scrutiny.
In a further statement, the PL retorted that it is not interested in whether or not the loan scheme is a success or not, as the PN said. What the PL is interested in is transparency, which is the main focus of the Party Financing Bill.