Issue link: https://maltatoday.uberflip.com/i/1000343
13 NEWS maltatoday | SUNDAY • 1 JULY 2018 YANNICK PACE MALTA represents the best destination for ambi- tious UK firms requiring a post-Brexit presence within the European Union, according to businessman and Tory peer, Lord Michael Ash- croft. In a piece published in ConservativeHome this week, the former deputy leader of the British Conserva- tive party makes the case for small and medium UK compa- nies to relocate to Malta after the UK has left the European Union. "My support for Malta as a business location where UK companies might wish to set up a base after Brexit has nothing at all to do with any sentiment," he writes. "As a hard-nosed, self-made businessman, I believe that Mal- ta represents the best destina- tion for ambitious UK firms that must have a post-Brexit pres- ence in the European Union." He says that while Malta might not seem like a natural rival to well-established European fi- nancial centres to many, it "can match, or even better, other Eu- ropean countries" in terms of what it can offer UK firms. His conclusions are, in part, based on interviews carried out with 10 "political, business, fi- nancial and legal high-flyers", including Prime Minister Joseph Muscat and Finance Minister Edward Scicluna. "Our attitude is that we do not want to tell UK firms: 'Leave the UK and come to Malta'. We don't think that is realis- tic and we are not going to be antagonistic, with a predatory agenda," Muscat said. "Instead we want to be seen as part of the solution to a potential problem when it comes to Brexit." The Prime Minister's sentiments were echoed by Scicluna who said that Malta offers UK firms the possibility of "protecting" themselves post-Brexit by "having one foot here and one foot there". 'Solution-solving attitude' In addition to Malta's low tax rates, writes Ashcroft, a key to the country's economic prosper- ity is the "solution-solving atti- tude and solid work ethic of its business leaders and workforce". Ashcroft describes Malta as a country with no natural resourc- es, but one whose law-makers and regulators had learnt that in order to be successful it had to be "forward-thinking and in- novative". "Successive governments from both main parties – La- bour and Nationalist – have provided strong, stable lead- ership," he says, adding that Muscat is a "broadly left of cen- tre" politician who is also "ag- gressively pro-business". Malta's small size, Ashcroft says, also means that it can be agile and nimble in embracing new areas of international busi- ness and in creating legislative frameworks that allow interna- tional companies to thrive while still being carefully regulated. Furthermore, he says the fact that Maltese laws and practices are based on Britain's, makes it easier for companies to operate in Malta. Reputational damage Ashcroft's analysis of Malta, however, also includes a number of warnings that any Maltese is all too familiar with. The Tory peer says that allega- tions of political corruption and money laundering over the past year have seen the country suffer reputational damage, which was only compounded by the "tragic murder of the woman journal- ist at the centre of many of the claims". "Daphne Caruana Galizia, aged 53 and a mother of three, was killed by a car bomb on October 16 2017: her three alleged killers have been charged in connec- tion with her death, while 'Mr Big' who apparently ordered the murder remains at large." Beyond reputational issues, Ashcroft says that Malta's infra- structure needs improving with public transport, roads, housing and planning all falling into the 'can-do-better category'. He also notes that the coun- try is currently going through a shortage of both skilled and un- skilled labour. Finally, Ashcroft writes that Malta needs to work hard to re- tain its "unique beauty" which can be threatened by business expansion and a growing popu- lation. "Space will always be an issue on the island, meaning land- scape and the environment that are treasured by islanders and visitors alike must receive pro- tection." BUILDING MALTA'S LANDMARK PROJECTS www.elbros.com.mt www.pa.org.mt PLANNING AUTHORITY The Government has asked the Planning Authority to carry out a review of the 2015 Fuel Service Station Policy. The proposed objectives which will guide the review include: (1) To highlight past, current and future trends in the development of fuel stations; (2) To review the current situation terms of the type (kerbside or non-kerbside, ancillary facilities), scale (footprint in square meters) and location (within the Development Zone or ODZ) of existing fuel stations; (3) To review pending outline applications, full development applications and new submissions for fuel stations; (4) To consult all related authorities; (5) To prepare a revised policy framework which takes into account the recommendations by ERA, determine the type and scale of ancillary facilities, the distance between fuel stations which shall The Planning Authority invites all interested parties to send in their submissions related to the proposed objectives. Representations are to be made in writing and addressed through email: FSSP_review@pa.org.mt The 2015 Fuel Service Stations Policy may be viewed on the PA's website; www.pa.org.mt. Submissions must reach the Authority by not later than 16th July 2018. HAVE YOUR SAY OPEN PUBLIC CONSULTATION Review of the 2015 Fuel Service Station Policy (Phase 1) Tory peer Lord Ashcroft pitches Malta as 'EU outpost' for UK companies Lord Ashcroft Malta's small size, Ashcroft says, also means that it can be agile and nimble in embracing new areas of international business and in creating legislative frameworks that allow international companies to thrive while still being carefully regulated