Dr Alfred Sant said that in the next five years “Malta’s interests will be best served by ensuring that we stay as much as possible outside any arrangements that seek to set new European taxes. At the present stage of our development,”

He added that “given the importance which financial services have gained in our economic profile, any such taxes would serve to erode Malta’s competitiveness and deter new investment from emerging.”

Speaking in front of hundreds of well wishers at the Montekristo estates, limits of Siggiewi, the EP candidate said that in the coming five years, representatives of EU member states are quite likely going to be keeping a much sharper look out for their country’s national interests.

“The new procedures being introduced by the eurozone to keep control over the budgets of members states as well as moves to introduce new taxes at European level will create tensions and controversies,” he said.

“Their implementation is not likely to go smoothly and there will be positions taken by countries like the UK and Holland that will need to be kept under observation,” Alfred Sant concluded.

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