Communist Party of Malta states that the G8/G20 meeting held recently in Toronto, Canada as a shameful act from political economic perspective and also on the repression shown by the Police on peaceful demonstrators.
“TheG8/G20 measures announced to save capitalism from the crises are a continuous threat on the workers. In fact the measures made public, were to reduce the deficit for the coming three years, are a continuation and reinforcement of more austerity measures against the working people and their families, youths, pensioners, and the unemployed.
These measures are being taking jointly with International financial capital institutions amongst them the IMF and the World Bank.
The European Union is also endorsing these austerity measures that are resulting in reduction of the minimum wage and social services, wage freeze for public service employees, retirement age up to 70 years, and privatisation of more public services.
The Communist Party of Malta supports the resistance offered by the workers together with various Trade Unions and with the support of Left wing parties in the European Union, so that alternative measures based on social justice, whereby banks and essential services be nationalised, an increase in the minimum wage and more public investments in social services and pensions.
“Austerity measures should be directed towards the capitalist class. Measures should be taken to reduce tax evasion and increase windfall taxes on financial institutions and bank transactions. If implemented successfully, these measures will decrease the burden on the working class.”