In his interview published today in The Times of Malta, the Minister for Finances Clyde Caruana has confirmed that large importers with monopoly power in Malta are excessively hiking prices for surplus profits with their monopoly power. The main case of such price hikes being discussed publicly right now are the price hikes by major food importers such as Alf Mizzi & Sons and Francis Busuttil & Sons, after a complaint was made by Labour MEP Alex Saliba to the EU Commission.
The Minister for Finances also confirmed a €13 per week COLA increase and this is Robert Abela’s idea of “substantially increasing the minimum wage” which in material terms it isn’t. This would make the minimum wage in Malta at around €205 per week.
The Minister also confirmed he will be trimming some of the budget of some ministries and entities but gross government expenditure may remain the same partly buoyed by the excessive spending by the Miriam Dalli’s Ministry of Energy in gas purchases at premium prices.
The Minister’s comments that expenditure on education is high but culturally people don’t appreciate education is right on point. However, the Minister should be aware that this situation is partly caused by the Labour Party’s total takeover of public broadcasting and its publicly subsidized, yet bankrupt TV propaganda channel, ONE.