Increase in white weddings 'an indicator' of spending power

Finance Minister says increased number of Church weddings and the reduction of objects pawned at Monte di Pieta are ‘positive indicators’ of people doing well

An increase in the number of Church weddings registered last year and the reduction of objects pawned at the Monte di Pieta are “positive indicators” of more people doing well financially, Finance Minister Edward Scicluna said.

In an hour-long speech on the second reading of the Budget Implementation Bill, the finance minister spoke of how government was helping businesses to grow and addressing families’ needs through various schemes and grants.

Listing the positive results achieved in low unemployment rates, increased economic growth, private investments and so forth, Scicluna argued that there were other “positive indicators” that one should take into consideration.

One of these was the increase in Church weddings.

Statistics released last week by the Curia showed that the number of Church weddings last year was 1,458, an increase of 71 over the previous year. Whereas in 2014 there were 48 couples who opted for a Church wedding, having already been civilly wed, this number increase to 74 last year.

“There are different ways how one could interpret these figures but it is known that white weddings don’t come cheap,” Scicluna said.

Likewise, he remarked that a second indicator was the decrease in the value of objects pawned at the Monte di Pietà.

The Monte di Pietà Buildings provide pawning services whereby precious articles are accepted as security against a low interest (5%) loan. Usually, the most pawned objects are gold, silver and other precious objects.

Whilst in 2008 the total sum of pawned objects reached €200,000, the figure went down substantially over the past three years to €23,000.

“These are just indicators, but still positive,” the minister added.

Scicluna reiterated that the government’s budgets built on one another, each year giving priority to different sectors while strengthening the economy’s foundation.

The minister’s long list of positive results however failed to impress PN deputy leader Mario de Marco who insisted that the people were not sharing the ‘feelgood factor’ promoted by the government.

He accused the government of misguiding citizens when talking about a reduction in unemployment.

“There were 1,353 people who were struck off the unemployment registry despite not finding a job,” de Marco said. He went on to question how many of those who found a job were Maltese and how many were foreigners.

De Marco insisted that the public sector increased by 2,500 people, “a substantial increase” when considering.

Voicing concern over the increase in government’s recurrent expenditure, he said, that economic growth should be fuelled by the private sector and not by the public sector.

This evening’s sitting was marked by repeated interruptions as the parliament’s staff tried to solve a technical problem with the House’s TV recording system.