During the Budget debate, the Government was challenged to contain the deficit, which seems to have engorged, placing it above or, at least, close to the eurozone’s three per cent maximum.
We probably all agree that it is the Government’s duty to support the economy and to encourage the private sector with a view to delivering sustained growth. It is in duty bound to be at the forefront to design policies that sustain the economy and provide the necessary support where it is most needed: families, pensioners and businesses.
However, I also believe that the Government is obliged to outline the responsible course of action to support the economy during this ongoing global economic slowdown. On the one hand, we have all seen the benefits of globalisation, reflected in cheaper goods, but, on the other, we are also facing the difficulties that need to be overcome in restructuring if Malta is to withstand the competitive pressures of the single market rooted in a global economy.
The economy can only be successful if it works for everyone and there is no respectable economic policy without an equally virtuous social policy.
Malta needs to embrace social policies that match the economic...
↧