Unsustainable electoral promises threaten Malta’s Economic Well-being
In an interview for the Times Business, Malta Chamber President Mr. Tancred Tabone stated that unsustainable electoral promises may compromise Malta’s competitiveness. “We believe that, at present, the biggest threat to our economic well-being is the prospect of compromising our competiveness with unsustainable electoral promises. Through collective and wise decision taking – with competitiveness in mind – the Maltese economy has performed positively, even at the height of the global financial crisis,” he said.
Mr. Tabone urged political leaders to continue to act responsibly, even during periods of electoral campaigning and, above all, to treat the safeguarding of national competitiveness as a matter of highest priority. He said that past achievements in competitiveness were hard-earned through effective social dialogue and through the collective efforts of our workers and entrepreneurs. Politicians must not compromise the interests of our workers and entrepreneurs – the latter risk their capital to provide jobs and a decent living for over two-thirds of our working population.
On the issue of social dialogue, Mr Tabone said the Malta Chamber has always been an active contributor to social dialogue and highlighted that it has and
continues to dedicate precious time and resources to the MCESD because it firmly believes in the importance of such dialogue.
He explained that the Malta Chamber has defended the Council’s current formula not because it wants a status quo but because the formula has been a successful one. Such success should not be taken for granted. Decisions of the composition of MCESD need to ensure balance between obtaining wide representative views of all sectors while, at the same time, maintaining a manageable environment for discussion.
Mr. Tabone said social dialogue must remain effective, and the widening of the MCESD cannot be treated lightly and should be the result of a clear process of analysis in terms of impact.
In this regard, Mr. Tabone expressed the Malta Chamber’s disappointment with the manner in which the widening of the MCESD took place, believing that a better engagement of the current social partners was required. Mr Tabone urged the government and opposition to afford social dialogue and the MCESD the respect and attention it deserves because this is one of the main defenders of the nation’s competitiveness and a stalwart of long-term, socio-economic stability in the country.