Gonzi keeps up criticism of depreciation proposal

The Opposition's proposal to devalue the lira was a measure that, while hurting everyone, did not benefit the country in any way and could also cause damage to Malta's credibility, said Prime Minister Lawrence Gonzi yesterday.

He asked the General Workers' Union to take a stand on the proposal and on how it would hit the pay of the Maltese.

The Prime Minister was speaking at a debate at the party club in Sannat.

He strongly criticised oppostition leader Alfred Sant's proposal on the depreciation of the lira, saying that his play on words meant nothing except that every Lm10 in the public's pocket would be worth Lm9.

The proposal was the worst solution for the country at the moment and was irresponsible. Dr Sant should withdraw it, Dr Gonzi said.

Moreover, the proposal to 'devalue' the lira over a period of time would give rise to speculation and profit of millions of liri at the country's expense for those who were capable of exporting money and then importing it back to Malta.

Referring to budget measures, Dr Gonzi recalled how Dr Sant had introduced a tax on every meter and increased the rate of water and electricity, despite the fact that the price of oil was only $12 a barrel at the time. Today, it had soared to $44 a barrel, but the government had not lost its social conscience.

Dr Gonzi was surprised that in two hours in reply to his budget speech, Dr Sant had not even found two minutes to talk about the environment - a sector in which the government had doubled its vote.

He spoke about measures introduced to encourage women to enter the working world and those who work illegally to regularise their position.

The reduction of public holidays was expected not only to strengthen existing employment, but also create new jobs, he said.

Dr Gonzi recalled that yesterday marked the anniversary of the murder of Raymond Caruana, an event that led to the strengthening of democracy in the country and the return of freedom.