“We didn’t predict this situation during election” – Tonio Fenech

The mounting economic and international problems were not predicted in the weeks before and after the March election, Finance Minister Tonio Fenech tells The Sunday Times in an interview today.

“When we had discussed the matter (of income tax cuts) we were clear that we still wanted to do it – but the world is changing every day, not every month. Everybody would love it if there were tax cuts – so would I. But I have to act responsibly,” Mr Fenech says.

In an interview carried out by Herman Grech, Mr Fenech also speaks of the proposed unpopular electricity tariffs and the international banking crisis, though he insists Maltese banks are “very, very far” from any major impact.

Read the full interview in today's edition of The Sunday Times.