Government’s citizenship scheme aimed at making a ‘quick buck’ – de Marco

The PN is opposed to the government's proposed Individual Investor Programme (IIP) because the scheme is not an investment programme but the sale of Maltese citizenship, "to make a quick buck," the party's deputy leader Mario de Marco said.

De Marco insisted that the Opposition was against the programme because it does not require a serious commitment by applicants.

He added that the Opposition had discussed the scheme with the government where it voiced its objections, however de Marco explained that the government was "adamant to ahead with the programme, without carrying out any changes."

Asked whether the Opposition would vote against the proposed legislation, de Marco said the PN would submit its amendments in Parliament, however he pointed out that the government had sufficient numbers in Parliament to approve the law without carrying out any changes. In that case, the Opposition would have no choice but to vote against the IIP, de Marco said.

The government's proposed programme will see applicants paying €650,000 for Maltese citizenship. This month, Prime Minister Joseph Muscat announced that the government hoped to generate €30m from the scheme in its first year.

"We are not against attracting foreign investment. However, we are against a scheme which puts Maltese citizenship up for sale," de Marco said, adding that no other EU country has introduced a scheme which does not require applicants from making serious commitments, such us taking up residency or investing money in the economy.

He said that the government's proposal compromised Malta's international reputation and called on the government to accept the Opposition proposals aimed at safeguarding Malta's reputation while attracting long-term investment.

"We cannot put at risk the country's reputation which took decades to build. We cannot put at risk a sector, which could attract boundless funds and create jobs," he said.

De Marco explained that the Opposition was suggesting that citizenship should only be granted to a restricted number of individuals who commit themselves to a long term investment in the country.