Minister for Finance, the Economy and Investment Tonio Fenech published details regarding the cost of the PN's Electoral Programme this afternoon, insisting that forecasts showed an economic growth of 3.2% by 2017.

Addressing a press conference at the PN headquarters, the Minister added that there would be a €60 million reduction in income tax revenue, and will review the removal of stamp duty on inherited property which will cost the Government around €11 million.

An increase of €78 million on free medicines will be needed as well as an extra €10 million for stipends, €12 million for scholarships and €40 million for increases in pensions, he announced.

When speaking on Capital Expenditure, The Minister indicated that an additional €100 million will be needed for the Malta Enterprise. A new development bank will cost €40 million, he explained. With regards to education and arts, The Minister said that €15.7 million will be spent on the Tablet Scheme. In addition, The PN will spend €12 million on a new Arts Academy and €6 million for a new school each year. Lastly, he mentioned a €100 million investment on a new MCAST campus.

With regards to a number of other issues, Minister Fenech spoke of the €50 million needed to reach energy targets. €15 million on will be spent on roads, he said, with €4 million to be allocated to the Eco-Gozo Scheme each year.

Minister Fenech argued that the Government intends to conduct an expenditure review to identify spending efficiency of 2%.