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These Are Malta’s Wealthiest (And Poorest) Ministers

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Finance Minister Edward Scicluna, rather appropriately, appears to be the country’s wealthiest cabinet member after his handwritten declaration of assets revealed he held deposits of €710,000.

Earning an annual income of €120,451, through his ministerial salary (€62,979), university (€4,607), and pensions (€52,865), Scicluna also holds some investments and government bonds valued at €152,000.

A close second to Scicluna is Social Solidarity Minister Michael Falzon. Falzon, who has no outstanding loans, declared holding BOV accounts that totalled to €259,113 and a further €380,000 in a fixed account.

Environment Minister Jose Herrera is the third to follow but it is quite some distance away in terms of income.

While declaring €277,000 in the bank, along with €5,000 cash in hand, Herrera owns an apartment in Sliema, a garden in Mosta, an office in Valletta, and half of Gzira plot that is currently being developed. He also holds a sixth of two properties in St Paul’s Bay and Sliema.

On the opposite end of the spectrum, Energy and Water Minister Joe Mizzi declared just 1c in his BOV current account. He does, however, have €13,237 in savings against two outstanding loans for a total of €11,000.

The figures were revealed after Prime Minister Joseph Muscat tabled the declaration in parliament, which showed that he held a bank deposit of €70,000 and home works loan of €120,000 while earning the typical PM’s salary.

Tourism Minister Konrad Mizzi, whose finances have been called into question ever since the Panama Papers scandal,  declared deposits of €230,572 against a loan of €297,731. He also holds 4000 shares in Malta International Airport and owns of a house and garage in London.

Meanwhile, Deputy Prime Minister Chris Fearne, holds  €109,000 in the bank, €279,000 in bonds and €70,200 in his wife’s bank account.

A full list can be found here.

READ NEXT: Prime Minister’s Media Chief Doesn’t Deny Possibility Of Moving On To Malta Enterprise

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