Updated 1300
National Bank shareholders want €1.4 billion in compensation
Shareholders of the former National Bankof Malta are seeking €1.4 billion in compensation, challenging a court decision that awarded them €111million. They argue that the compensation should include dividends paid by Bank of Valletta since 1974,totaling €1.4 billion. Another contention is the equal distribution of the €111 million among shareholders,irrespective of their holdings. The government, which intervened to save the bank in 1974, defends itsactions, stating they prevented an economic disaster. Appeals have been filed by both shareholders andthe government, marking the latest development in a legal battle since 1992. (Times of Malta)
Malta population in 2070 to grow to 811,000
Malta’s future sees a healthier elderly population, with lifeexpectancy rising significantly by 2070. Population projections indicate a 53% increase, reaching 811,000. Despite a denser population, birth rates will decline, leading to a significant increase in the elderlypopulation. Dependency ratios will shift, with fewer workers supporting the elderly. However, there will bemore older individuals actively participating in the workforce, with retirement ages increasing gradually.Consequently, the burden on the working-age population to fund pensions and healthcare will rise. Thecost of the national pension pot is expected to surge to 10.5% of GDP by 2070, necessitating adjustmentsin retirement age and contribution periods to mitigate the impact. (Maltatoday)
More knowledge of English than Maltese among those who live in Malta
In Malta, English proficiencysurpasses that of Maltese, particularly among tertiary-educated individuals and in areas with a highconcentration of foreign nationals. Despite strong Italian language skills due to Italian residents andMaltese speakers, English remains dominant. Approximately 96% of residents speak English, compared to90.4% who speak Maltese. Italian proficiency stands at 62%, influenced by both Maltese and EU residents.Variations exist based on geography, age, and education level, with 14.8% more tertiary-educatedindividuals proficient in English.
Morning Briefing
Political leaders accuse each other of being part of establishment
People in Malta’s south know exactly who forms part of the “establishment”, Robert Abela said on Sunday, as he sought to draw distinctions within society while also calling for the nation to “unite”. He told Labour supports that unity will bring further victories for the party. On the other hand, PN leader Bernard Grech told supporters on Sunday that while Robert Abela often mentions the “establishment,” he struggles to define it to journalists because, in reality, he is the establishment. Grech insisted that the establishment refers to someone who has held government office for 11 years and clings onto power. (Times of Malta)
50% of Maltese still undecided on EP vote – survey
According to a Maltatoday survey, 50% of Maltese voters have yet to finalize their decision regarding which candidate they will support in the upcoming MEP election next month. This uncertainty is more pronounced among existing Labour supporters, with 60% of them still unsure about their preferred candidate for their top vote. EU parliament President and PN candidate Roberta Metsola is in pole position in the race for Malta’s six seats in the EU parliament. She is followed at a distance by Labour candidate and MEP incumbent Alex Agius Saliba. While 16% declared their intention to vote for the PN’s front runner, 8% intend to vote for Agius Saliba. (Maltatoday)
ADPD calls for better enforcement in construction
ADPD argued that authorities must promptly enforce construction regulations and cease overlooking the challenges faced by residents impacted by construction activities. This stance was articulated during an event staged outside parliament, which featured Janet Zahra Walker, a victim of a construction site collapse who is now an ADPD candidate for the Pietà local council. Zahra Walker, along with her family and neighbours, was compelled to vacate their residences when a wall of their apartment block, located adjacent to a construction site, collapsed on June 13, 2019. During the ADPD event outside Parliament, Zahra Walker recounted that she had raised her concerns regarding this construction work with authorities more than a month prior. (The Malta Independent)
