The electoral mandate received by the Labour Party a year ago was sizeable. A historical showing of trust is pleasing but it also lays significant responsibility to deliver and to lead.

Among the most striking aspects of last year’s campaign was that, after two legislatures, the Labour government showed no signs of fatigue. We put forth a renewed vision, a detailed considerable plan which has the capacity to bring about deep-seated change in many sectors.

The plan has a realistic view to things. It did not paint a picture of a perfect country. It went right to the heart of the main challenges we are facing and mapped the way to address them.

There is one determining factor which cuts across the government’s work in all sectors: a people-first approach. This can be perceived in the robust manner the government acted to alleviate the impact of the global pressures on energy costs on local households. The state is paying a high price for this but it pays it purposefully to ensure that families are able to maintain their normal daily life without added hardship.

We are going through a phase of unprecedented growth. It was government policy that triggered vivid economic activity which, in turn, returned full employment, healthy investment flows and a rise in the standard of living of many. However, we cannot ignore the challenges of housing affordability among different segments of society.

Challenges like these are the focus of this mandate. Our renewed social programme is inspired by the contemporary realities of select categories facing stumbling blocks to penetrate a now thriving new middle class. Among these are parents, especially those who are single, and youths on a low income. It is a programme focused on optimising the economic model to maintain a healthy degree of growth while allowing us to ensure improved living conditions for everyone.

In a country proud of its homeownership heritage, the government treads carefully to ensure that the constant growth in the property sector continues as this means growth in households’ wealth. On the other hand, there is constant effort to ensure there are opportunities for the upcoming generation, especially for those willing to tap into the market and own their own home but find it increasingly challenging.

In the first year of this mandate, we put into effect two important measures in this direction: one intended to help first-time buyers in their first most difficult part of their repayment term and the second to extend the maximum amount of assistance in the 10 per cent down payment, thus enabling beneficiaries to access a higher total value (€225,000).

We cannot ignore challenges of housing affordability- Roderick Galdes

Not everyone can buy their property. Many choose to rent for different reasons. An important pillar attached to the rental reform of 2020 which instilled a sense of stability in the rental market is the Housing Benefit. By introducing an affordability benchmark, the Housing Benefit ensures that a tenant household does not pay more than a quarter of its monthly income on rent.

This did not take anything away from our effort at delivering new social housing stock which is constantly on the increase as families are steadily starting to move into their new place while we improve and upgrade existing building stock and improve accessibility in both private and public residences.

This is our way of approaching one of the principal challenges presented by our own economic success. This is our way of being realistic about the situation and acting purposefully to address issues effectively. It has been an eventful first year of the mandate. We laid important foundations on which to continue to build our plan for a more socially just and economically cohesive society.

It is our realistic approach that gained us the public’s trust in the past and in it lies the potential to gain more trust in the future. This first year shows that we do not want to waste a single moment in trying to rectify weaknesses and address challenges. That was our promise a year ago and we shall stick to it.

Roderick Galdes is Minister for Social and Affordable Accommodation.