Government has no plan and no credibility – PN
The government has no plan and no credibility, Opposition MP Tonio Fenech says on country’s downgrade by credit rating agency Fitch.
21 September 2013, 12:00am
Jurgen Balzan
Jurgen Balzan
1 min read
The primary message in Fitch's downgrade of Malta is that the Labour government has no plan and no credibility, the Nationalist Party said today.
Yesterday, credit-rating agency Fitch downgraded Malta to 'A' from 'A+', and said that the Labour government has not provided 'clarity' on how it will cut spending with the deficit set to burst to 3.6% in 2013.
Former PN finance minister Tonio Fenech underlined that the agency's decision was motivated by the country's deteriorating financial situation which is down to the then Labour Opposition decision to vote against the 2013 Budget and for lacking an economic plan.
Fenech also noted that Fitch had pointed out the European Commission's decision to place Malta under an excessive deficit procedure.
"Albeit the government is trying to give a different impression, the warning was a result of the government's decision to inflate last year's deficit without presenting a convincing plan for corrective action. The Labour government could have also avoided the procedure by convincing the European Commission that it would have cut the deficit below the established limits," Fenech said.
The downgrade, Fenech said, followed a drop in exports and a rise in unemployment and called on the Labour government and Prime Minister Joseph Muscat to "realise that the electoral campaign was over and shoulder the responsibility before the country's prospects in creating wealth and jobs are damaged any further."
Jurgen Balzan was a MaltaToday reported from 2011 to 2017.
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Tonio, it is better for you to stay quiet.
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Qazziztu lil kulhadd kull ma jaghmel gvern laburista hazin,inthom xi-zigg inthom qiskhom boloh,mela in-nies hsibtuhom Robats jew li li tghidilhom jemmnu,ghadkom bix xokk u tkaxkira li hadtu,nagattivita biss ma titghallmu qatt ghal gol hajt sa tibqghu dehlin bhal ma thaltu u xkanejtu fih ukoll.
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Kif Simon ma irrangax il-finanzi tal-PN f'sitt xhur? Ahseb u ara kemm intom tac-cajt tippretendu li Joseph jirranga il-hnizrijiet li ghamiltu intom 25 sena.....f'sitt xhur! Carry On Tonio!
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Tonio! What bloody cheek!!! No wonder you are a (failed) GonziPN politician par excellence. Keep up the pretence, ta'! That way you will manage to impress some rabid, corner-meeting PNers.
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CAN TONIO FENECH BE SO NAIVE TO THINK WE MALTESE ARE FOOLS!! FITCH BASED ALL ITS REPORT ON THE YEAR 2012 WHEN OUR FINANZI FIS-SOD WERE IN HIS INCAPABLE HANDS. THE 3.6% DEFICIT FORECAST FOR THIS YEAR WAS A DIRECT RESULT OF HIS, YES HIS FINANZI FIS-SOD WHICH WRECKED MALTA, ENEMALTA, AND THE REST OF THE COUNTRY. IT IS, I AM AFRAID, THE CREDIBILITY OF THE PN WHICH HAS BEEN PLACED INTO QUESTION AND NOT THAT OF THE PL WHICH HAS FOUND SUCH GROSS MISMANAGEMENT OF OUR FINANCES.
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L-aqwali jaf hu hux hekk .
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Dan l-istess EX ministru li l-ahhar zewg budget li ressaq, wiehed kellu jemendah ghax hekk ordnatlu l-U.E. u l-iehor ma ghaddielux miskin.
Mhux ahjar tmur ittih il-habel l-arlogg ghax nahseb raqadlek!!
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Dear Tonio, its your budget, which PL has endorsed that caused this situation.
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Mr tonio Fenech thats what i like about you,keep talking stupid,so the pl will get an even better result next election.thank you keep it up.
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Listen to the pot calling the kettle black. This is the same man that under his watch saw Air Malta go into go an almost bankruptcy, so he pumped over 135,000,000Million euros of the Tax Payer's money into it to bail it out to cover his incompetence. This is also the man that saw Enemalta go in the black for 800,000,000Million euros under his watch. This is also the man that let the ex Minister bring in the Arriva Fiasco and turned the Public Transportation System into a big fat joke. This is the same man that saw his budget proposal shut down and dismantled and caused the PN to call for a new general election, which they lost by a big margin. And so on and so forth. By the way that clock was presented to him by an admirer and had nothing to do with politics. Why is everybody always picking on me?
Luke Camilleri •
Ara very jrid ikollok wick bla-zejt tal-arloggi biex tohrog tikkundana ic-certifikat tal-budget tieghek stess u ta' l'ahhar amministrazzjoni NAZZJONALISTA li juri bic-car li kienu qedin idahhlu il-pajjiz go hajt . . . u l-PRIM MINISTRU JOSEPH MUSCAT u elettorat inteligenti TELGHA IL-BREJK!
JINHEBA IMISSU TONIO FENECH U MHUX JGHATI BHAL ISPIZJAR !
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Tonio, qrajtu ir rapport ta Fitch. Nissugerilhekk li taqrah sew u wara mur inheba ghax tara kemm waqajt an nej u misjur
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Is this the same person who in five years missed all his targets as regards our financial situation? Not to mention when he was a member of B'Kara local council.
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Dan dak il-BRAVU li tkellmu l-Madonna? Jekk 'IVA', no comment.
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Tonio Fenech? Ha-ha-ha-ha!
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When will Dr. French understand that the people by their thousands voted him and his party out of power, mainly through his very very bad performance as a Finance Minister, which is why Fitch has again downgraded Malta's credit rating.
This Govt has taken the bull by its horns, the country's financial situation albeit difficult and uphill to turn around, is now moving in the right direction.
Dr. French take a sabbatichal it would do yourself and the party you serve a whole lot of good, and the rest of us can also take a well deserved break form your 'ravings'
Micheal Bonanno •
@always hoping. And thus you'll remain. Yes labourites say these words but orally only. They're expecting manna from heaven, now that Labour is in governing. They're hoping for miracles to happen. And they're right after 25 years in the opposition. But what is wrong is that these same labourites do not have the patience to wait for the government to really start delivering the goods. They want the goods from day 0 if possible! That is what's wrong with labourites. If the government does what the majority of labourites want, no pn sympathizer would be left on the government's payroll, or any other authority. Of course, this is wrong, and I hope my fellow labourites learn from the lessons of the past, especially when Dr. Alfred Sant was in government. Let's not shoot down our own party from power. It's what the PN are waiting and hoping for as happened in 1998! And no I have no vested interests in the PL government although I am a labourite, and no I am not expecting any favours either. All I want is a government which is serious and forward looking.
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Kemm hsibtuh bahnan lil poplu Tonio? Meta ikun hemm ahbarijiet tajba ghax bis-sahha tal budget li ghamel il-PN u li approva il PL, u jekk l-ahbarijiet ikunu hziena, addio budget tal PN, kollox jigi tort tal PL. Iddeciedu pls. Aktar ma idumu storduti aktar tghidu hmerijiet.
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Tonio Borg, together with his leader, must not be living on planet Earth. Under his tenure, Malta was approaching junk bond status. Of course now that the PL is in power he expects perfection, a balanced budget and a plan to reduce and eliminate the debt his party created all in a time frame of a year or so! Initially I thought that the PN was just being its usual hypocritical, mudslinging and malicious self. But the more I hear from them the more I wonder if any of them has a grasp on reality!
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Tonino il-Fenech has forgotten how many times Malta's credit rating was reduced when he was still a finance Minister in the Gonzipn administration........... what a hypocrite!!.......He would have been more credible talking about the mess he left Enemalta in!!
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...and you had loads of plans and credibility Tonio Fenech. Go and get a life will you???
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Jurgen Balzan, This statement that Labour has no plan is coming from Labour supporters. Go to any barber shop and hear it coming from the people.
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Dan l-istess persuna li ried ibellalna li qala arlogg 'present'ghax mara ta ragel li inghata mahfra presidenzjali; kienet tiffansjah? Int m'intix kredibli u t-telfa li garrabt int lill- PN hu xhieda ta dan!
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Look who's talking. THE MAN. He wants to be Minister again so that he can sign 400,000 euro cheques the day before elections. Does he really believe we are about to forget that?
