You’re probably right. In fact, one of the issues I have with the legalisation of drugs is that the Maltese would enter the market with vicious enthusiasm, competing to ‘grow’ their market share.

The Labour party has been deliberately using the words ‘deficit’ and ‘debt’ for years as if they mean the same thing.

That creates a basis for spin. Unfortunately, the Nationalist Party never really embarked on an educational strategy to ensure that most people understand the words being used.

On the other hand, some economics, accounts and media studies should be mandatory. Those who wish to understand but had gaps in their formal education, just like myself, should make an effort to learn the basics that allow one to listen, read and watch actively.

As you rightly say, the economy never keeps going up and we already started going down the slope after the economic success launched by PN governments.

In normal circumstances, the rate of decline is slowed down by new sustainable initiatives coming on stream. However, the PL government has created nothing of sustainable substance over the last four years.

The results that have been published by the NSO point clearly to factoring in of ESA 2010 which is dealt with in another comment and which turned a deficit into the much boasted about surplus.

What I wish to highlight is that Compensation of Government employees has increased by Euro 18.3 million in the first 3 months of this year. If we annualise this number, it will equate to Euro 73 million and this does not include the jobs for votes scheme which, at an estimated 2,000 would cost the taxpayer an additional Euro 24 million.

One must also highlight that additional spending on Government employees contributes to GDP growth and therefore the employment of unnecessary Labour distorts the GDP besides boosting employment and unemployment statistics.
Let’s not forget that Government’s boasting of unemployment going below 4% was the result of creating a scheme by which employment went artificially down by 600.
This is typical of the Mintoff Labour corps and KMB’s 8000 jobs for votes.

One other key statistic which government boasts about in percentage terms, is the debt ratio. The reality about this is that in four years Government debt has gone up by just over Euro 1 billion and there are no solid projects/investments to back up this amount.

Also, government guaranteed debts have increased by Euro 950 million over the last four years. Part of this is the guarantee of around Euro 360 million for Electrogas, the power station company which has a capital of just Euro 10,000 and which Government has an option to buy back at Euro 450 million.