The Labour Party presented its audited accounts for the year 2024 to the Electoral Commission, which show that the party had a deficit of €1,098,777 for that year.

The statement also shows that the party has just over €40 million in assets.

"The financial report was audited by the audit firm Grant Thornton and was endorsed by delegates at the Annual General Conference held about a month ago, the PL said.

"The delegation led by President Alex Sciberras presented the financial report in the office of the Electoral Commission in Naxxar. This report was published on the website of the same Electoral Commission, just after it was presented on Thursday morning."

PL President Alex Sciberras said that the Labour Party is showing that it takes its responsibilities seriously and is always adhering to transparency and accountability obligations.

"Thus, the Labour Party has adhered to its legal obligations under the law on the financing of political parties, each year presenting the audited accounts on time, as the political parties in Malta are obliged to do. This is contrary to the Nationalist Party which has been violating the law blatantly for the past 5 years because it has not presented the audited accounts and is neither transparent nor accountable to its members and the general public."