Today, there was a news item about the Labour Party refusing to file its accounts per law. Its previously filed accounts are full of lies of course and don’t reflect the truth. Everyone knows that both major political parties lie about their finances while avoiding their taxes. I am not familiar with the financial situation of the Nationalist Party other than knowing that it’s very, very bad. On the other hand, the finances of the Labour Party are not so bad although the Labour Party still has a lot of debt while its propaganda machine via ONE burns hundreds of thousands of Euros in capital every year.
The Labour Party has around €500,000 in its bank accounts at BOV and has been accumulating this money ever since Muscat became the Party’s leader. However, the Party’s debts exceed this amount and they mainly originate at ONE. Every year, the Party burned at least €1 million in current expenditure although I am not certain whether this involves the expenditure on ONE. It had revenues greater than that although I can never be sure of the total amount because much of it is hidden. For example, contractors close to the Labour Party like Sandro Chetcuti used to donate to the Party around €50,000 every year for a number of years Labour was in government. Joseph Portelli’s donations used to be much bigger although I am not sure of the exact amounts. Bear in mind that at the time when I used to encounter such information and documents as Party librarian and archivist, I never saved anything for myself because back then I was a loyal Party servant. So, all of this is from my memory.