WATCH: Robert Abela and Alex Borg debate before Malta’s business community

A live debate between Labour Party Leader Robert Abela and Nationalist Party Leader Alex Borg hosted by The Malta Chamber is set to begin momentarily.

You can follow the debate below.

The debate, moderated by The Malta Chamber’s Head of Communications and Media Strategy Rachel Bondi Attard, takes place just a few days before Malta heads to the polls on Saturday 30th May.

‘Time for courage’

The Malta Chamber President William Spiteri Bailey opened the event by calling for “courage” from political leaders.

“The election that lies ahead of us is a defining moment for Malta,” he said. “A moment where the country must decide whether it will continue to react to the challenges of today, or whether it is ready to embrace a long-term vision, reform, and leadership with a clear direction.”

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How will the country fund the giveaways?

Both major parties’ proposals for a range of tax-cuts, benefits, grants and additional entitlements have been described as “giveaways”, prompting warnings from The Malta Chamber and other business lobbies against “reckless” promises.

Asked how they would fund the increase in state spending, the party leaders took different tacks.

Dr Abela pointed out that Malta’s debt-to-GDP ratio is well within EU limits and forecast to continue declining. He noted that the Spring Forecast from the European Commission projects Malta’s economy to continue growing at a rapid pace.

He also pledged no new taxes on Maltese firms.

Dr Borg on the other hand pointed to the PN’s proposals regarding the development of new economic niches, such as a new bunkering hub on Hurd’s Bank and a new cultural centre in Marsa.

On mass transit

After Dr Borg criticised the €4 million direct order handed to ARUP to conduct study after study on Labour’s mass transit proposal, Dr Abela hit back by questioning the PN’s expertise and highlighting discrepancies in its costings.

“As if you can just wake up and just start digging,” he told attendees. “This is a massive use of public money. Of course you need to study it. Let’s be realistic here.”

However, the PN leader then pointed out that Finance Minister Clyde Caruana had previously expressed reservations about the cost of a metro project, adding that Shadow Finance Minister Adrian Delia has seen the PN’s costings and is ready to sign off on them.

“With us you will be getting five years of implementation, not studies,” he said.

On compliance costs

The PN leader also attacked Labour’s record on good governance, saying its actions resulted in Malta’s greylisting and the associated increase in compliance costs affecting every business. He linked it to the Labour Government’s reluctance to publish detailed asset declarations and the removal of the obligation to report their partners’ assets.

“We are clear. If we are elected, on the first day, we will publish my declaration of assets, my partner’s, and the ministers and their partners as well. They will be public, down to the smallest detail.”

Abela banking on stability

The Prime Minister meanwhile pitched himself and the Labour Party as the safe choice, pointing to its track record during the COVID-19 pandemic.

“We got through it because we worked alongside the business community,” he said, noting major foreign investments since then, such as the expansion of the STMicroelectronics factory and the arrival of medical device firm Vantive.