What would you do with €980 million next year? Or, better, what wouldn’t you be able to do with €980 million in a year?
That’s the sheer amount of debt Prime Minister Robert Abela and his Finance Minister Clyde Caruana are piling up on our future generations in just one year, 2023. That’s the amount of money Bobby and Clyde are robbing from our youth, who eventually will have to pay it back.
That €980 million next year will be on top of another €955 million during the current year, 2022. And another €1,162 million in 2021. And another €1,238 million in 2020. All these figures being the highest or among the highest in all of Europe (as a percentage of the size of the economy).
You see, since Bobby and Clyde became prime minister and finance minister in 2020, they are running a €1 billion increase in debt every single year. The great promise of the 2019 World Champion of Corruption and Organised Crime, Joseph Muscat, to be the best in Europe has come to pass. With respect to bribery and organised crime in the highest levels of government, certainly, and also now in record increases to our public debt.
In 2021, Bobby and Clyde won the European championship for increases in debt. Because that’s what the deficit is, adding on debt; if you spend more than you earn, you’ll have to borrow the difference. Our prime and finance minister have fought keenly to be in the champions’ league of debt increases. They’ve succeeded.
In 2024, they will have doubled the public debt they started with. Yes, doubled. The year 2024 will be another ‘Best in Europe’ moment for Labour: first, bribery and organised crime in government; then, the yearly increase in public debt; and, in 2024, the champions in doubling public debt in the shortest possible time.
That’s how you grow the economy, stupid, especially if you haven’t created even one new economic sector: you show more spending in the economy by borrowing a billion euros a year.
While the yearly debt increase doesn’t budge from a billion euros a year, while we stay in the debt increase champions’ league, only the excuses change. Bobby and Clyde will tell you that in 2020 and 2021 there was COVID. But they won’t remind you that they had estimated COVID to cost €1.5 billion, not €4 billion. And that we didn’t have COVID in 2022, yet they still indebted Malta to the tune of a billion euros.
In the oil price crisis of 2008, Malta’s deficit was €255 million; now it’s four times that amount- Eddie Aquilina
Labour are masters of drumming in a message repeatedly but they won’t ever remind you that they removed COVID restrictions several times too early, only for cases, and damage to our social fabric, health and economy, to explode.
Bobby won’t remind you that he had childishly intoned “We won over COVID” way too early, in July 2020, organising a fireworks festival to mark that huge win, only for restrictions to be re-imposed just a few weeks later. But we had “mekkeniżms”, didn’t we?
While constantly running a debt increase of €1 billion a year, the excuse is now changing to energy prices. But is this the first time Malta has experienced high energy prices? What was Labour’s take when it was the Nationalists in government suffering oil prices at $150 a barrel? Then, Malta’s public deficit was €255 million; now it’s four times that. Four times.
You know what Bobby and Clyde won’t remind you of either? That the World Champion of Corruption and Organised Crime had promised Labour was making Malta enter all kinds of energy supply agreements with corrupt governments to keep energy prices at a stable level.
So not even that was true: Labour was making Malta enter corrupt agreements only for criminals in power to hide their bribes in Panama secret companies. So, we ended up with stable and high energy prices when oil and gas prices were low. (Remember when one got paid to ‘buy’ oil in 2020?) Now, the agreements we were supposed to have for stable energy prices have evaporated into thin gas.
And Bobby and Clyde won’t remind you that major projects are being paid for by the European Union in funds Labour told us to vote against. The billion euro debt increase every year is not due to capital expenditure. It’s really due to top Labour sympathisers swindling taxpayers in all kinds of political posts, consultancies, corrupt contracts and huge vote-buying.
The great Bobby and Clyde robbery is there for all to see: €1 billion a year in debt according to their own estimates. We’ve just started paying for it in higher prices and interest rates but the bulk of it will fall on our children and children’s children. Bobby and Clyde’s great robbery.