Issue link: https://maltatoday.uberflip.com/i/1528951
5 maltatoday | WEDNESDAY • 6 NOVEMBER 2024 ANALYSIS Grech's speech: Good punchline, hazy vision model, which he described as one where the sole focus is "to generate internal consumption, increasingly based on a contin- uous rise in population, cheap labour, and construction" de- spite the pressure it creates on infrastructure and well-being. While this critique avoids xenophobic or racist overtones, it also overlooks demograph- ic and social realities, which inevitably drive a demand for foreign labour, especially in sectors where Maltese work- ers are no longer interested in working. Neither does he con- vincingly rebut the argument that without foreign workers Malta would be poorer. Statistics galore Grech attempted to impress by citing study after study, though sometimes giving in- correct interpretations. For ex- ample, when referring to a Cen- tral Bank report showing that the top 10% hold four times as much wealth as the bot- tom half of the population, he claimed the income disparity between the highest and lowest earners is among the greatest in Europe. However, the CBM report also states that, despite this rise in inequality, Malta's wealth Gini coefficient – a measure of inequality – has on- ly increased slightly, from 0.54 in 2010 to 0.59 in 2023. The CBM report states verba- tim: "This figure remains well below the euro area average of 0.72, positioning Malta as the third least unequal economy among the countries surveyed by the Central Bank DWA." Moreover, Grech showed a limited understanding of eco- nomics when he criticised the government for increasing debt from €5 billion in 2020 to €10 billion, disregarding that, despite heightened spending during the pandemic and on energy subsidies to cushion the impact of spiking international prices, Malta's debt at 50% of GDP remains well below the 60% threshold set by the EU. Instead, Grech casts doubts on EU approved statistics. "The debt is not a percentage which the government can play with, particularly in suspicious re- visions to statistics, which the government published in an at- tempt to paint the situation in a good light," he said. If true this would be a very serious matter as it means that the National Office of Statistics is colluding in fraud. A new port in Gozo And while the Opposition is right to question the govern- ment's priorities, its aversion to public spending does not bode well for its plans to invest in public services, public trans- portation, and even a new "al- ternative port in Gozo." Although, Grech correctly criticised the government for postponing transport-related decisions and presenting one plan, roadmap, and vision after another, he himself proposed considering the construction of an "alternative port" in Gozo, admitting in a press conference that "serious studies would need to be conducted to ensure that communities and the envi- ronment will be respected." In reality, the environmental sustainability of such a project depends on its location and scale. Proposing this without specifying a location risks rais- ing concerns among environ- mentalists about the coastal impact while also raising devel- opers' expectations, who may see this as an excuse to build a new coastal town around the new infrastructure. Ultimately, despite his imper- fect delivery, Grech managed to land a few effective blows, suggesting the Opposition has identified the government's major Achilles' heel: the ero- sion of its authority. However, Grech still lacks a convincing narrative to persuade the elec- torate that he has a better plan for the country. The opposition leader outlined a series of economic reforms that a PN-led government would implement if elected in the next general election (Photo: James Bianchi) "The Minister for Finance expressed his astonishment that in the US and China, they already have driverless taxis. I do not know if this was a dig aimed at the one sitting next to you. Because what we have today is a government without a driver, as you yourself suggested in an interview with MaltaToday,"