Issue link: https://maltatoday.uberflip.com/i/1481025
9 EDITORIAL BusinessToday is published every Thursday. The newspaper is a MediaToday publication and is distributed to all leading stationers, business and financial institutions and banks. MANAGING EDITOR: SAVIOUR BALZAN EDITOR: PAUL COCKS BusinessToday, MediaToday, Vjal ir-Rihan, San Gwann SGN9016, Malta Newsroom email: bt@mediatoday.com.mt Advertising: afarrugia@mediatoday.com.mt Telephone: 00356 21 382741 C lyde Caruana was a key technocrat in pushing forward the Labour gov- ernment's 'making work pay' man- tra aer 2013. e multi-faceted policy was intended to encourage people to enter productive employment, whether these were inactive women or people on benefits caught up in a cycle of dependency. Several policy decisions, not least the free childcare service for preschool chil- dren, the tapering of unemployment benefits and the in-work benefit, target- ed pockets of idle adults and encouraged them to join the labour market. From being a laggard in the number of gainfully occupied women, Malta shot up in EU statistics as more women took up employment and thus improving their personal situation and that of their fam- ilies. Additionally, dependency on social ben- efits was cut drastically as employment became an attractive option. Increasing Malta's workforce by using untapped potential was important to stimulate economic growth. But government also adopted a more liberal approach to the importation of for- eign labour as companies required more workers to meet the growing demand. is rapid increase in foreign workers cre- ated a vicious cycle of economic growth fuelled by population growth, which in turn required more foreign workers to sustain the higher demand. Yesterday, when launching the skills survey that will be carried out by the National Statistics Office, Caruana, now in his political role as minister, said the policies adopted over the past 10 years were necessary to fuel economic growth but acknowledged that the recipe created challenges to Malta's quality of life. While people experienced better in- comes, urban environments witnessed an unprecedented assault from the construc- tion of new buildings. Basic infrastruc- ture creaked under the weight of a rapidly expanding population. Communities ex- perienced demographic changes that cre- ated social tensions and the consumption boom left its mark on the environment. All the while, Malta had above average economic growth, zero unemployment and public finances that returned to black. Caruana yesterday admitted that the recipe he himself championed – he de- scribed himself as a cheer leader of it – for 10 years, will not be adequate to take the country through the next decade. People want their quality of life to im- prove and to do this, the model of unbri- dled economic growth is no longer feasi- ble, he said. Malta must target economic development instead. is does not mean that the doors to foreign labour will be shut. Too many sec- tors are dependent on foreign workers to continue offering an array of services that in turn contribute to an improved qual- ity of life, such as healthcare and elderly services. But aiming for economic development means targeting jobs that pay better and create less stress on the country's physical and social infrastructure. It means understanding the skill levels of the Maltese workforce and trying to anticipate the skills necessary to face the next 10 years. is requires a holistic plan that touch- es on education, infrastructure, energy, social development, the creation of safe, beautiful spaces for people to enjoy their free time, better worker protection within an environment that fosters productivity and a strong rule of law regime. Malta is at a crossroads and it requires a plan that looks to the future. Getting there is best achieved through dialogue with stakeholders and communities. Moving beyond unbridled economic growth 6.10.2022