Between fat cats and migrants

Here we go again.  The newly elected government which in opposition used to pander to anti immigrant sentiments by blowing the irregular migration problem out of any proportion, has devised a global residency programme which makes it easier for rich foreigners to acquire residence and pay taxes in Malta

Probably the measure may inject a lease of life in the property sector, something which tallies with the present government short term approach which risks increasing our dependency on the property sector. It was such dependency which spelled ruin in Spain and Cyprus, the latter becoming a haven for Russian dirty money.  In this way by attracting some foreign fat cats to reside in Malta, a number of Maltese cats will get fatter.

No wonder developers like Sandro Chetcuti are heaping praise on the new government on One TV.  But it is extremely doubtful whether any such benefits will trickle down to the rest of Maltese society especially the most vulnerable.

It is even more disturbing that our brand of social democrats has adopted the trickle down ideology of the previous government with even greater zeal. 

At best the scheme might generate some extra revenue for government by having these people paying taxes in Malta and import some of the Russian money which used to go to Cyprus before its economy collapsed.  But ultimately it confirms my hunch that the new government's limited vision of growth is one which perpetuates our dependence on real estate.

But what strikes me is the ambivalence of those who perceive migrants who escape hunger or war as a threat to our sovereignty but are largely silent on turning our country in to a haven for people who essentially are motivated by speculative greed. 

It is also shocking how willing we are to dish foreign resident permits and so stingy in granting citizenship to foreign workers who have contributed to our economy for decades. Surely some may come with the argument that while ordinary migrants do not bring any wealth with them, the fat cats will splash their monies in our economy.  

In reality it is more probable that ordinary foreign workers including migrants have a greater multiplier impact than the mega rich who may buy property but are less likely to integrate themselves in the real economy through ordinary acts like buying from a grocer, buying drinks from a bar, buying tickets for theatre or concerts and eating in a restaurant.  

Ultimately, I believe that Malta's future is that of becoming a cosmopolitan hub.  But history is replete of two types of hubs; unequal societies attracting a foreign elite, including a shady criminal element, which helps  sustain a local elite and more equal societies where foreign workers and migrants are fully integrated, not as a reserve army of labour but as  people enjoying the same rights as us all.