Issue link: https://maltatoday.uberflip.com/i/637230
maltatoday, SUNDAY, 7 FEBRUARY 2016 News PHOTOGRAPHY BY RAY ATTARD Union approves HSBC workers' deal in vote MEMBERS of the Malta Union of Banking Employees have voted to agree to a finalised package that has broken the impasse on a collective agreement with HSBC Malta. In their last meeting, HSBC Malta chief executive officer An- drew Beane cited bad perform- ance overall as the main reason behind the bank declaring its final position on negotiations, es- pecially that relating to the finan- cial package. "He was clear that it is the bank's final position," the MUBE told employees of the salary increases proposed. The bank agreed to reduce em- ployees' home loan rates to 0.9% for 2016, and offer additional al- lowances, reduced subsidy on maxicredit loans, and a further €200,000 accrual to the pension pot. "The current im- passe has been on- going for way too long whilst the CEO confirmed that this is the bank's fi- nal position. A vote needs to be taken by members on whether to accept the proposals or alternatively consider resort- ing to other remedies," the union said on Thursday before clinch- ing members' approval. The MUBE met Beane officially three times with the aim of ex- changing views on the current scenario. Last week, the two sides ironed out differences of inter- pretation on breaches of the col- lective agreement. New IIP regulator SENIOR civil servant Carmel De Gabriele has been appointed as the new regulator of the Individual In- vestor Programme (IIP), replacing Godwin Grima who has resigned from the public service. Grima was formerly head of the civil service under prime minister Lawrence Gonzi. After 2013, he was tasked with regulating Malta's 'gold- en passport' scheme, that has gener- ated over €119 million as of the end of 2015. De Gabriele had previously served as Chief Electoral Commissioner, director general for family and so- cial affairs, and permanent secretary within the social policy ministry. Hoist by their own petard Political leaders get their just deserts during Carnival 16