Bernard Grech to address MCESD social partners on greylisting

Bernard Grech will tomorrow address the Malta Council for Economic and Social Development on Malta’s greylisting after his request for an audience was granted.

The Opposition leader wrote to MCESD President James Pearsall on Monday to be allowed to address the social partners in the first scheduled meeting of the MCESD on Wednesday.

Responding today, Pearsall said that he arranged for the Opposition leader to address the MCESD on Wednesday at 12:30pm.

The formal meeting with MCESD members will add pressure on government to provide a clear roadmap ahead to get the country off the FATF greylist.

So far, the government has declined the Opposition’s proposal for the creation of a high-level task force to address the problem.

In his letter published by the Nationalist Party this afternoon, Grech said he wanted to hear the views of the social partners and put forward the proposals the Opposition was making to enable the country get off the greylist.

“The occasion will allow me to present the proposals made by the Opposition to enable the country to respond to this historic challenge, which if not addressed seriously, can threaten thousands of jobs and companies in the country,” Grech said, adding he also wanted to hear what the social partners had to say.

Malta was greylisted by the Financial Action Task Force last week after members were unconvinced the country had done enough on the ground to combat financial crime.

On Monday, Grech proposed the creation of a parliamentary committee that will consult with all stakeholders and deal with greylisting after government turned down an initial offer for the setting up of a high-level task force.

He also asked the government to publish all correspondence exchanged with the FATF and the action plan that has been agreed.

READ ALSO: Grech tells Prime Minister to denounce Joseph Muscat: ‘Greylisting is his legacy’

Finance Minister Clyde Caruana has said that the circumstances necessitated work being done in silence and behind the scenes, calling on politicians to take a step back.

Government has insisted greylisting was unjust on the country but gave its political commitment to FATF that it will address shortcomings highlighted by the organisation.

Key points to address include more intelligence gathering on criminal tax evasion, prosecution of tax crimes and ensuring the information on beneficial owners is accurate.

READ ALSO: At €1 billion in uncollected taxes, lack of prosecutions in Malta shocks observers