Commenting on the the EU commission evaluation on the 2014 Maltese budget, AD Chairperson. Prof Arnold Cassola said, “The Commission’s report issued on the 15th November 2013 states that Malta is at risk of ‘non-compliance’ with respect to Stability and Growth Pact and also the Excessive Deficit Procedure recommendation for 2014.”

He added, “this contrasts with other EU members who are quoted to be ‘broadly compliant’ with the Commission’s recommendations. The Commission notes that the projected dynamic increase in tax revenues in 2014 does not appear to be fully explained. It is concerned also about Enemalta’s dependence on subsidies and possible lower net capital expenditure due to slippages in budgetary execution.”

“This is all a result of the fact that both the PN and the PL ignored Alternattiva Demokratika’s appeal not to decrease the income tax rate for higher earners, with the result now being the serious shortfall in the country’s income,” Prof Cassola said.

“The rushed Individual Investor Programme reveals the Government’s desperate measures to balance the books in 2014, aware of the economic situation in Eurozone which is affecting seriously domestic and foreign consumption. AD urges the Government to address the risks mentioned in the report, in particular revenue projections and job-creation,” Prof. Cassola concluded.

Permalink: Alternattiva Demokratika on the Budget and EU Commission evaluation