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Budget of prudence and caution – Prime Minister
Prime Minister described Budget 2012 as a budget of prudence but cautious at the same time.
14 November 2011, 12:00am
Karl Stagno-Navarra
Karl Stagno-Navarra
2 min read
Prime Minister Lawrence Gonzi said the budget had been prudent in addressing the deficit.
Addressing the media at the end of the Budget speech presented by Finance Minister Tonio Fenech, the Prime Minister said that notwithstanding the economic turmoil that has been persisting in 2009 and is expected to persist throughout next year, with Europe possibly facing a recession, Malta is envisaged to see economic growth at 2.3% which is “conservative but achievable”.
Lawrence Gonzi however warned that it will all depend on the Maltese to make a concerted effort and have faith in their potential.
Gonzi stressed that next year’s budget is an exercise which specifically focuses on protecting existing jobs and at the same time attempt to create more jobs through a series of investments and incentives to business and SMEs.
“I refuse to accept any references to this budget as adventurous because our projection are based on facts which come out of our success this year in not only weathering the storm but also in managing to bring down our deficit to 2.8%,” Gonzi said.
He added that a series of measures specifically aimed at the family have at the very core an element of social conscience that will serve as a safety net to protect the vulnerable from any difficulties they may face next year.
“Government will be voting more than €1 billion in welfare and we take pride in introducing for the first time a financial scheme by which some 13,000 octogenarians will be receiving €300 in a year,” Gonzi said, that this is besides the pension and the benefits, as a contribution to their needs.
On Air Malta, the Prime Minister issued a stark warning to all those involved in the talks to save the airline: “The airline will receive a €20 million assistance. The airline salvation will now depend on the trade unions and the workers to find viable solutions.”
He added that what the management has managed to achieve so far is “more than acceptable”.
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With less profits to tax, and more dole cheques to write, weak growth makes it even harder for government to cut their borrowing, and repay their debts.
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IL-MINISTRU TONIO FENECH DAM JAQRA L-BUDGET GHAL SAGHTEJN U NOFS,L-AKTAR BUDGET LI DAM JAQRA F'DAWN L-AHHAR ERBA' SNIN.DAN KIEN L-AHHAR BUDGET GHAL DAN-GVERN? QEDIN JISEMHAW IX-XHUR TA'MARZU,MEJJU,GUNJU,OTTBRU W NOVEMBRU 2012 FEJN TISTA TISSEJJAH ELEZZJONI GENERALI BIKRIJA,VERA GEJJA ELEZZJONI GENERALI BIKRIJA IS-SENA DIEHLA?
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Married, no kids, so nothing in it for me. Vat dodgers get a slap on the wrist yet again, broken promise of tax band reduction yet again.
Gonzi pn so full of crap you stink from here.
Micheal Bonanno •
@vuci. And why do you think we haven't been as hard is because our banks are very conservative in their business, our laws are very stringent, and they have been for the last forty years, and the Maltese are very industrial, and not spendthrifts. If it weren't for these aforementioned, we're already facing a financial catastrophe. We've been safe not because of the government's diligence (which by the way leaves a lot to be desired), it's because of the opposition's prudence not making waves, and rousing industrial strife as happened in other countries.
Zack Depasquale •
@vuci ta sens
My Friend,why should I support a government that rewards itself with 500Euros a week and I have to make do with 1.16Euro, not even the price of a soft drink and if I ask for more I am told there is a crisis, but for bridges that lead to nowhere, for a flawed transport system, consultants galore and a roofless theatre there is no crisis. This is the reality we are living in, thrust works both ways you know.
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Perhaps I overstated it a bit, however, in a time like this where Malta is relatively unscathed by the turmoil around us we need to look at a larger picture and not be parochial (and above all not cynical). I do not trust the Government in everything it does, but at a crisis time like this, I do find myself giving them a full support - our support of the government in a crisis (and not focussing on the ME) benefits the nation. With things falling to pieces around the globe,we should be able to look at the government and feel proud that we have done things right.
Luke Camilleri •
@vuci ta sens
“ME” lacking any sense of social responsibility, ME ?
If Dr. Gonzi , his Cashier and his coterie had any sense of social responsibility and OVERALL RESPONSIBILITY, they would not have helped themselves to €500 a week pay rises!
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If they had RESPONSIBILITY, they would not have rubbed off their misdemeanors and incompetence with a simple ”I’m sorry!”
Who is bearing the cost for all this, it’s ME, ME , ME and future generations of Maltese ….. YOU & YOURS included, unless you are a relation to Dr. Gonzi & Co
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vuci ta sens , - QUM MINN HEMM U kun veru bis-sens!
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Oh what a budget! Fantastic way of helping VAT evaders to the detriment of honest vat paying persons. What is all the fuss on education! Obviously education must be costing this debt ridden goverment quite a lot! What about Air Malta and ST Microelectronics. This country is going down to a worse credit and performance rating next year!
Zack Depasquale •
@ vuci bis-sens
No I dont live in your fantasy world like you do where robins sing and flowers grow, but I live in the real world where numbers are more important than people, where Public deficit is being hidden, where injustice is the order of the day, where making ends meet is marginally impossible, where a primeminister is constantly under thread from his own people, and this all thanks to your GonziPN
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@Thorny - its nice to know that you and your ilk lack any sense of social responsibility and thinking only of ME ME ME. Grow up and welcome to the real world (which is inhabited by PN supporters who understand a responsible budget - not PL pipedreamers wanting a free ride). Prosit Gonzi and Tonio.
Micheal Bonanno •
Suppost il-pensjonanti ser jiehdu z-zieda kollha!
Luke Camilleri •
Budget of prudence and caution – Prime Minister
What about RESPONSABILITY and HONESTY?
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Dear Prime Minister,
Prudence and caution are two words which should be taken with every decision taken from day 1 from Budget day 1... and not on the eve of an election!
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You seem only to have discovered them NOW ...... and you are just not credible anymore!
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You keep justifying yourself that your payrise of €500 a week saying those were other times referring to three years ago.
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Three years ago would have been the ripe time to revise the Income tax bands, BUT YOU DID'N'T AS PROMISEDIN YOUR ELECTORAL MANIFETO!
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You are just not credible!
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Min qieghed jithaq b'min? Min dahaq b'min?
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Jista xi hadd jghejdli fis zgur ,jekk il PENSJONANTI hux ser jiehdu iz zieda tal COLA. Ghax imkien ma jissemma....qieshom mietu kollha f`daqqa.
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Quote He added that what the management has managed to achieve so far is “more than acceptable”.
Of course Dr Gonzi this applies for your cabinet and all those that pocketed those 600 euros down to 5oo euros per week
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if this is the best Gonzi can do,well bye bye in the next election
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A budget full of gimmicks,what about the prices of fuel and electricity bills,Tonio hardly mentioned them.
Oh by the way Francis Zammit Dimech and Beppe Fenech Adami were very busy during the speech,especially Zammit he did not even bother to open the copy of the budget instead he used it to cover his laptop.
We judge by what we see,PN MPs who act like clowns.
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This budget gives me the shivers. GonziPN is leading our country to ruins. This Budget does not address the real core issues of the country's public finances especially the real reduction of our public debt. Shame on our Government in its lack of direction.
