Low unemployment guaranteed with PN’s 25,000-job pledge – Busuttil

Malta retains one of the lowest youth unemployment rates in the Mediterranean, but the country needs a sound economy to deliver 25,000 new jobs in the next five years.

Nationalist deputy leader and MEP Simon Busuttil today justified Malta's 15% rate of unemployed youth, by comparing it to Spain's "unbelievable" 56%, in a presentation of his party's programme to encourage more youths into the labour market and the use of EU funds to pay salaries for employers who take on unemployed youths.

"We also have the best rate of graduates who end up in employment. There is zero unemployment for many segments of graduates, such as pharmacists and accountants," Busuttil said.

The PN's electoral programme has targeted a number of proposals to encourage the set up of businesses for the young unemployed, as well as offer grants to youths in both study and volunteer work. Apart from tagging university stipends with the cost of living adjustment and increasing them for the disabled and students from low-income families, the re-elected Nationalist government wants to open a €1,000 child pension account to encourage a culture of savings from the cradle.

The PN is also pledging income tax exemptions and social security credits for under-25s opening businesses and companies, as well as grants ranging from €500 to €1,000 for young people who carry out voluntary work abroad or a language course.

"Without a sound economy, these proposals are not possible. And on 9^th March we will be giving the country an economy on a strong footing, allowing us to keep our finances stable," Busuttil said.

The PN deputy leader also boasted of Malta's low level of unemployment, and of having the lowest deficit rate and public debt in the Mediterranean.

When asked what he made of Enemalta's €600 million debt and how this pushed up national debt to 90% of GDP, Busuttil limited himself to say that Malta's calculation of debt was strictly in line with EU criteria.

"We use these criteria to calculate national debt and this doesn't take into account Enemalta - our debt is therefore less than the EU average and the smallest of the seven Mediterranean countries. It cannot be clearer than that."

On her part, Spanish MEP Teresa Jimenez-Becerril Barrio warned the Maltese electorate that they should not experiment at a time when Malta's economy is faring well compared to other Mediterranean countries, including her own.

"This is not a time for adventures or dreams. Everyone loves change but when you are in such a good position, why should you risk making things worse." she said.

Jimenez-Becerril Barrio, a European Popular Party MEP, present for the press conference at the PN headquarters this morning, added that Spain's former Socialist government, led by Jose Luis Rodriguez Zapatero, was the reason behind' Spain's economic woes, since he did not do enough to prevent the "enormous crisis."

"If you think things cannot be worse, look around yourselves, look at what is happening in Greece, Italy, Spain and Portugal."

The MEP added that the easiest thing to do was to tell the people what they wanted to hear as Zapatero's government had done, however this led to the highest unemployment rate ever, with over 56% of young people and 26% of women being out of work.