It was par for the course in those days, banking secrecy and all, but true nonetheless. Another casualty of money love.

Not declaring earnings (from whatever source) or assets (wherever they are held) for tax purposes is illegal. It is quite clear – from what he has NOT said rather than from what he has said – that this money was not declared to the Maltese authorities and that is exactly why it was held in Switzerland. Mr Falzon may since have regularised his position through one of the several amnesties on the registration or repatriation of overseas assets, given by the Maltese government since then. But when you hold public office, that is almost a side issue. The main issue is that you held assets which were not declared for tax.

I see nothing illegal in Michael Falzon’s dealings, so you? His explanation about his Swiss money is quite normal.

We have to see this in its proper context – that is, the 1980s.

Nobody can accuse me of being “anti-PN” or of being socialist in my approach to capitalism, but I hardly think what you’ve written here is the main point at issue, John.

Your average person does not resent those who make money. They resent any form of real or perceived unfairness – for example, people who make money and fail to declare it – the original reason for depositing it in a foreign bank account.

And though that was entirely justifiable given the criminally punitive tax rates before 1987, it has long since ceased to be justifiable.

I think most of us would be uncomfortable with the idea of cabinet ministers approving, in cabinet, an amnesty on the registration of assets held overseas, from which they and/or their colleagues stand to benefit themselves.

I am not suggesting that this is something Mr Falzon did, but in order to bring his affairs in order, he would, at some point, have had to declare the monies held in his Swiss account/s to the tax authorities in Malta, whether he benefited from an amnesty or not.

It seems that nobody is allowed to be successful, work hard and make money and worst of all deposit the money earned from being successful in a Swiss bank account.