Issue link: https://maltatoday.uberflip.com/i/210069
3 News maltatoday, WEDNESDAY, 13 NOVEMBER 2013 Greens demand abrogative referendum on citizenship sale Chamber of Commerce calls on parties to seek common ground before proceeding any further with the IIP • Alternattiva Demokratika asks for abrogative referendum on sale of passports for €650,000 MATTHEW VELLA GREEN party Alternattiva Demokratika said the new Individual Investor Programme should be subjected to an abrogative referendum. AD chairperson Arnold Cassola said his party was calling on civil society to unite against this law which can cause damage to Malta's reputation. "The insistence of the government to protect the anonymity of these new Maltese citizens gives cause to great concern. We want full transparency and disclosure with regards to the identity of the persons benefiting from this scheme." The law was formally passed yesterday in the House, after amendments pushed by the Opposition to publish the names of the IIP citizens, who will acquire citizenship on a donation of €650,000, were not passed. "In view of the fact that the law for the acquisition of Maltese citizenship against a payment of €650,000 is about to be approved by parliament AD is calling upon civil society to unite in calling for an abrogative referendum to strike out from the statute book the legal provisions," Cassola said. Carmel Cacopardo, AD deputy chairperson, said the promotion of the IIP abroad was "already raising eyebrows". "Malta has slowly and painfully made a name for itself as a reputable financial centre. The implementation of this citizenship scheme, with all the secrecy surrounding it, could endanger this hard gained reputation, with the severe consequences that all this could bring for Malta's economy." Cacopardo said that once government did not heed civil society's criticism of this legislation it as now incumbent on civil society to take the lead and "challenge government's arrogance by calling an abrogative referendum on the issue. It is time to stand up and be counted". In another state, the Chamber of Commerce urged for political consensus on the Individual Investor Programme, which will sell Maltese citizenship for €650,000, after claiming that the IIP continues to have "serious doubts and unanswered questions". The Chamber's main concern centred around the IIP's impact on the country's economic reputation, claiming that successive government went through great lengths to protect the country's reputation in sensitive sectors such as financial services. "The Chamber believes that, as things stand, the IIP can affect Malta's reputation because it can raise questions about the soundness of the country's fiscal and financial credibility. More importantly, the Chamber believes Malta's reputation can be tarnished by the unprecedented extreme positions taken by both sides in parliament over a matter of such economic sensitivity. "This risk has been compounded by the dangerous statements made during the debate which may lead to misinterpretation and taken out of context. Uncertainty, of course, is not conducive to investment attractiveness," the Chamber said. The Chamber called for the rollout of the IIP not to be rushed, even though the 2014 budgetary projections rested on the IIP's implementation, believed to be raking in €30 million within the next year. "The Chamber believes that any attempt to force the IIP through at this stage is not in the country's long term interest. We strongly urges the country's political forces to seek common ground before proceeding any further with the IIP as this would be clearly the best outcome for the country." mvella@mediatoday.com.mt Arnold Cassola