Malta Chamber of Commerce President calls out PL, PN over ‘reckless’ electoral promises

President of the Malta Chamber of Commerce, Enterprise and Industry William Spiteri Bailey has aired concern over proposals issued by the Labour and Nationalist Parties which he says would directly harm the business community.

Malta is in the middle of an election campaign, with voting set to take place on 30th May. Both major political parties began issuing their electoral pledges earlier this week.

But the Malta Chamber of Commerce President has now aired concern about the promises being made.

In a letter he wrote to Prime Minister Robert Abela and Opposition Leader Alex Borg, Mr Spiteri Bailey said that over many years the Malta Chamber earned its credibility through consistency, evidence-based positions, and a clear focus on safeguarding Malta’s long-term economic sustainability.

“We have repeatedly and persistently emphasised the need for policies that strengthen productivity, competitiveness, and responsible governance—principles which are also central to our national strategic direction.”

“It is therefore with serious concern that we are observing that certain proposals being issued in the context of the current electoral campaign, if implemented, would directly harm the business community and, ultimately, the Maltese economy as a whole.”

He said that short-term, politically-driven measures that ignore economic fundamentals, distort labour markets, or impose additional burdens on enterprise are “not only misguided—they are reckless.”

They risk undermining competitiveness, discouraging investment, and weakening Malta’s economic resilience at a time when global pressures are already intensifying, he said.

This approach, Mr Spiteri Bailey added, is fundamentally at odds with the direction outlined in Vision 2050.

“That vision calls for a long-term, productivity-driven, and value-focused economic model. What we are currently witnessing is a departure from these principles, in favour of proposals that prioritise immediate electoral appeal over national interest.”

The business community cannot support such an approach, he said.

He added that the chamber has always been constructive and solutions-oriented. “Our proposals are grounded in research, consultation, and international best practice. We will continue to engage in this spirit. However, we will not hesitate to speak out when proposals are clearly detrimental. What is wrong is wrong. What is right is right.”

The Malta Chamber called on both Prime Minister Abela and Opposition Leader Borg “to exercise responsibility and restraint. Any proposal put forward must be assessed not on its popularity, but on its feasibility and its impact on productivity, competitiveness, labour supply, and long-term economic sustainability.”

He said that populism cannot be allowed to dictate economic policy.

Mr Spiteri Bailey argued that businesses plan for the long term. “They invest, employ, and grow based on stability and predictability. Political cycles may span four or five years, but the consequences of poor economic decisions endure far beyond that. Malta cannot afford to get this wrong.”

He urged the two leaders to ensure that all commitments being made are credible, deliverable, and aligned with the long-term national interest. “Productivity and competitiveness must remain at the core of any policy direction if we are to safeguard Malta’s future prosperity.”

He said that the Malta Chamber remains ready to engage constructively with both sides. “However, we will also remain firm and unequivocal in defending the interests of the business community and the broader economic wellbeing of our country.”