The declaration of assets of the members of the Cabinet was published in Parliament on Wednesday.

The statements show most ministers having home loans, with Prime Minister Joseph Muscat himself having a loan of €120,000 for home works.

Dr Muscat said he had no investments in shares, bonds or other instruments but had €70,000 in bank deposits. His only income was his salary as Prime Minister.

Finance Minister Edward Scicluna, appropriately, appears to be the most well off, with deposits of €710,000 according to the handwritten declaration. His income includes his ministerial salary of €62,979,  €4,607 from university work and €52,865 in pensions apart from some investments.  

Deputy Prime Minister Chris Fearne, who is also Health Minister, has €109,000 in the bank, along with another £2,600. He also declared holding €279,000 in bonds and €70,200 in his wife’s bank account.

Tourism Minister Konrad Mizzi declared total deposits of €230,572 and a loan of €297,731. He declared 4000 shares in Malta International Airport and ownership of a house and garage in London.

Economy Minister Chris Cardona declared €135,000 in bank deposits and a €375,000 outstanding loan. Aside from his €62,500 ministerial salary, he also made €10,000 in rental income. He declared owning two properties, one in Birkirkara, and another in Madliena.

Education Minister Evarist Bartolo declared a modest €1,962 in his current account at HSBC, along with €22,372 in two separate savings accounts. Aside from his €62,597 ministerial emollition, Mr Bartolo also declared a €33,095 pension.

Energy Minister Joe Mizzi declared having just 1cent in his BOV current account. He also has €13,237 in savings. He has two outstanding loans for a total of €11,000.

Equality Minister Helena Dalli declared some €38,000 across two current accounts, along with another €20,000 in savings. Aside from her ministerial salary she also declared being paid €3,293 by the University of Malta.

In an attached document to her declaration, Dr Dalli disclosed her holdings in five trading companies and another two non-trading companies.

 Home Affairs Minister Michael Farrugia declared €116,620 in savings, and €159 in his current account. He also has an outstanding loan for €36,698.

Justice Minister Owen Bonnici holds no shares or bonds, and declared €8,420 in the bank.

He has two loans with BOV totalling €130,000.

Environment Minister Jose Herrera’s declaration form was not filled in, and instead referred to an attached document. He declared holding a sixth of two properties, a house in St Paul’s Bay and another in Sliema. He also declared holding an apartment in Sliema and a garage, a garden in Mosta, an office in Valletta, and half of Gzira plot that is currently being developed.

He also declared having €277,000 in the bank, along with €5,000 cash in hand.

Foreign Affairs Minister Carmelo Abela declared holding some 19,000 in security holdings between him and his wife. His current account had some €7,000 and he has another €6,400 in savings.

In the section in which he was asked to disclose any other directorships, he wrote “xejn” [nothing].

He has €108,513 in outstanding loans.

Transport Minister Ian Borg has €22,708 in the bank and owes €303,476. Aside from his matrimonial home in Rabat, he declared holding an apartment and an office in Dingli, another office in Rabat, and a piece of land which he acquired in 2015.

Gozo Minister Justyne Caruana has €118,288 in the bank, and owes €32,000.

Social Solidarity Minister Michael Falzon has no outstanding loans. He declared having three BOV savings accounts which hold €124,000, €127,880, and €7,233. He also has a fixed account containing €380,000.

Read the declarations of all the ministers and parliamentary secretaries in the link below.

Independent journalism costs money. Support Times of Malta for the price of a coffee.

Support Us