Issue link: https://maltatoday.uberflip.com/i/417582
13 Budget 2015 maltatoday, TUESDAY, 18 NOVEMBER 2014 LEADERS Budget not socially just, says Opposition leader OPPOSITION leader Simon Bu- suttil slammed the government's financial estimates for 2015, ar- guing they are socially unjust and lacking a clear economic vision and substance. Addressing the media after fi- nance minister Edward Scicluna's four-hour long budget speech, the PN leader insisted that when all measures are taken into account, "there is no substance." Taking umbrage at the four-hour long speech, Busuttil argued that the government is unable to meet the budget time limit, "let alone the stipulated time frame for the construction of the new power sta- tion." During his budget speech, Sci- cluna confirmed the reduction of utility tariffs would be extended to businesses. Electricity and water tariffs will be reduced by 25% and 5% respectively – a measure which according to the government is ex- pected to inject €80 million into the economy. However, the finance minister was mute about the completion of the new Delimara power plant. Giving his initial reaction, Busut- til underlined that this is a silence which speaks volumes. Moreover, the PN leader argued that not- withstanding the reduction in utility tariffs, the "problem lies at sustaining the decrease". "Even though the new power sta- tion is an intrinsic plan of the gov- ernment's electoral mandate and budget, nothing was mentioned of it. In four hours, the government found enough time to announce a new footpath through Wied iz- Zurrieq, yet it did not give any deadline or any update about the power station." "The clever thing is not reduc- ing the electricity tariffs, the real challenge is financing these reduc- tions," he said. Flanked by deputy leader Beppe Fenech Adami and Mario de Mar- co, Busuttil said that the Budget highlights "the government's lack of economic vision, ideas and in- ability to diversify the economy." Instead, Busuttil said, the gov- ernment was depending on the economic sectors that the previ- ous Nationalist administrations created. "The budget failed to mention any clear plan on growth or economic direction. It failed to mention any new initiatives for new economic sectors or to create further eco- nomic growth," Busuttil said. Bususttil also said that "the budget is socially unjust because it did not ensure a just redistribution of income." On the maligned 58c Cost of Liv- ing Allowance (COLA) increase, Busuttil underlined that the gov- ernment's one-off payment of €35 was "an insult, and that it was not enough to compensate" for the meagre COLA increase. "The budget confirmed the ri- diculous COLA increase of 58c. This became worse with the so- called compensation of a one-off payment of €35. This, however, will not be given to everyone, and consequently, this further high- lights the fact that there is not a just redistribution of income," he argued. Rather than ensure social equal- ity, the government implemented several new taxes on insurance policies, mobile use, and wine con- sumption, among others. He also said that the drop in fuel prices still did not ref lect the sharp drop in international prices. Asked what has become of the bailout warning he had warned about in the run-up to the 2013 general election, Busuttil was adamant that certain "worry- ing symptoms," namely excessive public debt, decreases in indus- trial production, and increases in unemployment and public service employees, were still prevalent. While welcoming the govern- ment's pledge to crack down on social benefit abuse, Busuttil said such abuse should be dealt with on a daily basis and not just during the budget.