The annual interest on Delia’s personal borrowings alone is more than the Opposition leader’s salary

Published: September 7, 2017 at 12:44pm

Nationalist Party leadership contender Adrian Delia has personally borrowed money from three banks to a total amount of €728,000 – almost three-quarters of a million euros. The banks are Banif, the Bank of Valletta and HSBC. He himself has admitted to these borrowings.

The annual interest on €728,000 is €43,680. This means that besides significant capital repayments to reduce his loan, Delia also has to pay the bank €43,680 a year in interest, which is then reduced as he reduces the loan. He has not told us the length of term of the loans. This is hugely relevant because if the greater part of that is not a long-term loan – a home loan or similar, which would be unusual at his age – then he may well be looking at capital repayments of around €100,000 a year besides the interest.

The Opposition leader’s salary is €43,000 a year – not even enough to cover the interest he has to pay the banks every year, let alone keep a wife, five children, pay school fees at an independent school, pay for the full-time chauffeur and full-time housekeeper, and all the expenses of running a household and that lifestyle.

The people who are supporting him should stop and think about what they are doing. This does not make sense. There is something going on which they are not being told, and they should wise up to the fact and stop allowing Delia to treat them like idiots.

Delia’s salary as Opposition leader is not even enough to pay the 43,000+ euros in interest which he has to pay three bank every year on his personal borrowings.