The key to wealth creation is sustainability, and it is noted that economic growth is not directly proportional to quality of life.
To maintain the present boost in economic growth Malta needs to:
- a) Safeguard the integrity of the financial, gaming and tourism sectors, and be less dependent on the economic driving force of urban development.
- b) Ensure that this growth is inclusive. All social strata, especially those at risk, must benefit from distribution economics.
For government to maintain this economy, its shortfalls in sustainable planning must be addressed.
Partit Demokratiku is of the opinion that the following must be tackled effectively in the 2019 budget:
(1) The infrastructure: notably by reducing traffic flow and finding alternative means of transport whilst making our urban streets liveable. Connectivity in our road and sea networks is imperative.
(2) The high demand in housing and increased rents calls for immediate corrective incentives. This is fundamental.
(3) Educating and re-skilling our workforce which is Malta’s biggest capital. It needs urgent deserving attention.
(4) Spending power has to be such that it guarantees dignified living for all. A liveable wage and pension are an immediate must.
(5) Sustainability needs investment in research and innovation. This must be complemented by good governance – which requires autonomous and independent regulators and enforcement agencies.
(6) Our environment, which also includes our natural heritage, must be defended and preserved.
This government has not as yet learnt the art of long-term planning. PD calls on government to do what is strategically right and correct.
A sustainable and ethical economy is built on the solid foundations that strike a balance between profit and social justice, thus safeguarding the well-being of the people.