20% of Malta’s GDP

In the immediate wake of the Panama Papers leak in April last year, I wrote an article (‘Keeping a Sense of Proportion’) in which I warned:

“There is a danger, as always in Malta, of losing our sense of proportion and leaping to conclusions before having the hard evidence on which to base a judgement…. Both the leader of the Opposition and the Prime Minister should consider the impact of their actions in the much wider context of what the Panama Papers have exposed about tax havens and how these might affect Malta’s vital financial services industry.

“Scoring political points is one thing. Undermining an industry which accounts for about 20 per cent of Malta’s GDP and hundreds of jobs in law and accountancy firms and financial services is quite another.

“This is not just about Panama, yachts, errant ministers and senior officials, or even tax-dodging, but about the very shape of the

... read more at: https://www.timesofmalta.com/articles/view/20170719/opinion/20-of-Malta-s-GDP.653628