The Nationalist Party said today that its "transformative vision set out in its electoral programme will earn the country an additional €42.6 billion over eight years, while creating 32,500 new high-end jobs with an average salary of €43,000".

This will be in addition to thousands of other jobs in other sectors of the economy, the party said in a statement.

PN today published its costings document, which shows that while its 550+ measures cost €5.97 billion, PN’s spend will be entirely recovered from the economic growth that will create more income for government.  

This is the first time a political party in Malta is not just saying how it will spend taxpayer money, but is also providing detailed projections of how it intends to grow the economy, the party said.

The financial model includes a stimulus programme for the country’s existing high value-added sectors and the creation of 10 new economic sectors. 

By 2030, the existing sectors are projected to have added another 18,160 jobs and contributed an additional €18 billion to the GDP, while the new sectors are projected to have added another 14,355 jobs and contributed €24.6 billion to the GDP.

The PN programme aims at generating an additional real economic growth of 6.9% over the current projections, the PN said. 

By 2027, incremental government income from the PN’s programme is projected to reach €830 million annually, without increasing any taxes, social contributions or VAT.

The document also lists the €2.8 billion costing of the Trackless Tram system, part of which will be covered in the infrastructural budget set out in the €5.97 billion, while the rest will be raised through EU funds and private financing.

The full document may be seen here