Opinions

Taking a Look at the Wealth of Politicians

Many people are fascinated by how much politicians make and would be eager to peek into their personal finances and wealth. The declaration of Maltese politicians’ wealth was published just a few days ago and some of the figures might be interesting! Obviously, we will always have those who are highly sceptical and jump to the conclusion that the figures provided do not reveal the full story and that politicians may have hidden assets and wealth. With that said, we can only speak about what is published!

Let’s start off with the Prime Minister, Dr Joseph Muscat. It is indicated that he has a total of seventy thousand Euro in deposits with no investments, shares or bonds. It is also worth mentioning that he has a loan of one hundred and twenty thousand Euro for works related to his house. The only income is his salary as Prime Minister.

The Minister for Finance, Edward Scicluna appears to be the most wealthy. He has deposits exceeding seven hundred thousand Euro and three different sources of income which include his salary as minister which is over sixty thousand Euro, his earnings from the university which total four thousand six hundred and pensions which exceed fifty thousand Euro. These are followed by some investments.

Chris Fearne, the Deputy Prime and Health Minister has a hundred and nine thousand Euro in the bank and another two thousand six hundred Sterling. He also has around two hundred and eighty thousand invested in bonds and also declared an approximate seventy thousand Euro in his wife’s bank account.

The controversial Konrad Mizzi has declared a loan of almost three hundred thousand Euro and total deposits of around two hundred and thirty thousand. He also has four thousand shares in the Malta International Airport and owns a house and garage in London.

Economy Minister Chris Cardona declared a loan of three hundred and seventy-five thousand and a hundred and thirty-five thousand Euro in bank deposits. Together with his ministerial salary which is around sixty thousand Euro, he declares another ten thousand from rental income. He has declared that he owns two properties, one in Madliena and the other in Birkirkara.

When compared to other Ministers, Evarist Bartolo and Joe Mizzi declare no loans and savings in deposits of a few thousand.

epa05755009 Malta’s Minister of Justice Owen Bonnici speaks before the Informal Meeting of Justice and Home Affairs Ministers at the Grandmaster’s Palace in Valletta, Malta, 27 January 2017. It is the first Informal Meeting of Home Affairs Ministers since Malta took over the EU Presidency on 01 January 2017. EPA/DOMENIC AQUILINA

ustice Minister Owen Bonnici declared two loans, which combine to a total of one hundred and thirty thousand Euro. He also declared around eight thousand in the bank.

The Minister for Transport Ian Borg owes around three hundred thousand Euro and has an approximate twenty thousand Euro at the bank. In terms of assets he owns a matrimonial home in Rabat, an apartment in Dingli, two offices in Dingli and Rabat respectively, together with a piece of land.

What is your view on the wealth of politicians?

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