But we know the answer to that, don’t we. We just don’t have “proof”.

Anecdotally, albeit somewhat extensively so, slowing economic activity and reduced net taxation revenues from financial services would reinforce the suggestion that there is no way this administration could balance its budget outside of some fanciful creating accounting.

One telling example of this relates to the tax rebates paid to overseas owned companies which are registered in Malta – you know, those companies which have reportedly denied the exchequers of other member states something in the region of EUR12 billion in the past 5 or so years.

A key selling component of our jurisdiction to those corporates establishing a presence in Malta is that the 7/8ths rebate of the 35% tax levied on their declared earnings are repayable to these same taxpayers within a period of two months of the tax being paid.

This is how it has worked for many years. I am advised, again anecdotally, that the repayment process now takes upwards of ten months to complete. Why? Well, perhaps the International Tax Unit is administratively overwhelmed.

On the other hand, and perhaps more realistically, there may be cash flow considerations as far as the Maltese exchequer is concerned.

What is evident from the FDI data is that the rate of new corporate registrations has slowed dramatically; these delays hardly augur a sustainable solution to those already registered here but who may perhaps now consider moving elsewhere.

From a personal perspective, all I can say is that irrespective of the wider fiscal considerations imposed by EU membership, we can only blame political interference and mismanagement for Malta’s apparent administrative shortcomings, which this government will not acknowledge.

The claimed and self -congratulatory balance is as elusive as it is imaginary. I have little doubt that a re-elected Labour government will register a renewed and probably pronounced deterioration in its budget within the coming twelve months and beyond.

The so called private investment in energy and health infrastructure is probably nothing of the sort. It is most likely being funded indirectly by the public purse through complaisant banks or will be paid for by the government in the future.

And the thousands of fake jobs created for their cronies will cripple public finances for the foreseeable future.