Phenomenal Konrad Mizzi has banked more than he earned

Konrad Mizzi, the best minister Malta has ever had in the best cabinet in history and Europe, in 2015 somehow managed to bank more than he earned. Isn’t that phenomenal?

Last year, for the year 2014, he declared €310,000 in bank deposits and an outstanding loan of €329,000. But yesterday, for the year 2015, he declared €389,000 in bank deposits and an outstanding loan of €322,000.

So over the course of the year, he cut his loan by €7,000 and saved €79,000 in the bank – which would require income after tax and national insurance of €86,000. But his declared income is €70,000 – and that is his gross income, before tax and NI. Presumably, he would also have had to buy stuff for the fridge and pay his utility bills at home (even though he is the Minister for Utility Bills), and might have had to buy the occasional shirts, socks and underpants. He spends nothing on communications, flights, car and petrol, because all those come free – including the flights to China.

Also, Mizzi has not broken down his income as other ministers have done. A government minister’s salary is €59,855, which leaves €10,145 unaccounted for.

Notably – and questions have to be asked about this too – he has not declared income from the rent of his ‘house with garage in London’, as he did last year. It’s impossible to believe that the house has stood empty for the entire year, so where is his rent money going?

If he claims, to fit in with his original story that the Panama company was set up to manage his ‘London house’ (Blackheath semi), and so the rent money is being paid to Hearnville Inc, then he has another problem with getting his many and varied lies into a line: Hearnville Inc needs a bank account to receive that money, but he’s claiming that Hearnville Inc doesn’t have one.