Konrad Mizzi declares his assets as an MP

Minister Konrad Mizzi declares his assets as an MP, includes offshore Panama company and New Zealand trust

Konrad Mizzi this morning declared his assets as a member of parliament, a day after the Prime Minister announced that he will keep him on as minister.

His declarations as MP are identical to his ministerial declaration of assets that were tabled in Parliament earlier this week, and include his offshore Panamanian-registered company [Hearnville] and the New Zealand trust [Rotorua] that it was settled in.

As was the case last year, Mizzi also declared ownership of an apartment in Sliema and a house and garage in London. He also declared ownership of 4,000 shares in the Malta International Airport.

He declared €389,440 in bank deposits, up from €310,279 last year, and €322.167 in bank loans.

He didn’t declare any immovable assets under his wife’s or children’s name.

Prime Minister Joseph Muscat on Thursday announced a Cabinet reshuffle through which that Mizzi, who is under pressure for having opened an offshore firm in Panama, will not be sacked.

Although he had his energy and health portfolios stripped off him, he will remain as a minister “without portfolio” in the Office of the Prime Minister and be given “special tasks”, including the implementation of the LNG power station project.

Muscat himself will take on Mizzi’s energy portfolio, while Chris Fearne has been promoted to health minister.

“It is an important political change. It would have been cosmetic had I put Mizzi on another portfolio, but I will direct his decisions,” Muscat said, saying that it was his priority to deliver on his government’s promise to switch over to gas.

Muscat himself will take on Mizzi’s energy portfolio, while Chris Fearne has been promoted to health minister.

Keith Schembri, who is also under fire for owning an offshore Panama company, will stay on as Muscat’s chief of staff.

Opposition leader Simon Busuttil denounced the Cabinet reshuffle as a “farce”.

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