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 We are now in the 11th year of a young millennium and our destiny beckons. By now, we will all have forgotten our New Year’s resolutions and are resigned to the fact that we can only improve our lot and achieve our objectives by tightening our belts, and not by drawing up wish-lists.
The year brings increased prices for fuel, gas and milk products, not forgetting a two per cent VAT hike, and it is now a question of whether one buys the right coloured LPG gas cylinder, as some colours are cheaper. With two competing LPG suppliers, there is confusion over the prices approved by Malta Resources Authority (MRA). In fact, the increase in gas prices reached new highs at a time when voters are constantly being reminded that privatisation should lead to cheaper supplies. Another round of hefty increases in fuel prices – currently the monopoly of the state agency Enemalta – have just been approved by the MRA and all this is happening at a time when the dollar is weakening against the euro and the oil price is stabilising.
Reluctantly, the unions hit out at the MRA for failing to protect consumers, while the Chamber for Small and Medium Enterprises (GRTU) went so far as to describe the lack of a proper explanation for the increases “mistaken and insensitive”. In his article in The Times of Malta, Prof. Scicluna said that both auditors’ reports – the one by KPMG commissioned by Enemalta and one by the Deloitte commissioned by the MRA – based their respective exercises on a number of “questionable” assumptions and unaudited financial data furnished by the corporation. The oblique answer from the MRA, fully echoed by the Resources Ministry, supports the regulator which, they say, has the necessary expertise to establish the level of tariffs that should apply, even when until recently there was only one supplier. In this tug of war, the MRA insists that, through its independent auditor, it possesses “the expertise on matters and areas on which it has taken a position so far”.
Reacting to the criticism about gas prices mentioned earlier, the MRA defended its actions without publishing any economic impact studies. One may well ask why we bother to have an MRA on our national payroll, when such doubts arise. Granted, nobody would like to be in the MRA’s shoes when prices go up, but such austerity has to be better explained. At this juncture, a wicked thought comes to mind: can our political leaders lead by example and reduce their salaries – taking a leaf out of the book of the New York governor, who has taken a cut in salary? The opposite has happened in Malta, as our cabinet ministers have rewarded themselves (in a covert manner) with a €4 million rise in honoraria.
The Maltese workers, angry about the bitter pill of post-budget austerity they are being asked to swallow, argue that the €1.16 weekly wage increase awarded in the last budget is not enough to compensate families. Another bad start to 2011 was the way New Year’s Eve revellers were so dismally let down by public transport, with only a few buses in service. Paradoxically, all this is happening at a time when the Transport Ministry is paying €55 million to buy back buses in a planned reform. This failure to provide adequate transport was the fly in the ointment and contrasts negatively with the classy bill boards that encouraged locals to flock to the year-end street parties being held in Valletta and Floriana.
But could this be a bad omen for the rest of the year? Is inflation about to rear its ugly head and erode our competitiveness? It is to be hoped not. And not withstanding these setbacks for the rich, nothing dulls a hedonistic drive to enjoy themselves and push for higher pleasures even post New Year celebrations. But for all others, all this travesty in price hikes leads to an aura of self deception since our wellbeing is in jeopardy. Having had a wonderful time during the Christmas season (a successor to an ancient pagan Roman feast) the working classes treasure a strong desire to sustain such happy moments and events in the new year….and hard working folk say why not ?
Memories conjure up languishing images of feasting and fun with friends. Drawing on the writings of the ancient Greek philosophers, happiness and wellbeing challenge us to think about our values and beliefs, to discover a sense of place in the universe and to work out what we love and how to love it. In doing so, a sense of wellbeing is shown to be within the grasp of us all. But can we focus on such thoughts and reflect on how to achieve them during the cold dark nights, with heating our homes fast becoming unaffordable? In contrast, party apologists lead us to smile, breathe, walk, and enjoy our life styles in tune with a surrealistic dream pursuing an abundance of happiness.
We are advised, as EU citizens, to educate ourselves for better job prospects that in turn may lead us to a higher standard of living. We are cautioned not to live beyond our means, but at a national level we notice how our country is perennially in debt .And this with no respite….. try to count each note in €4,200 million and you will burst in tears reflecting on our miserable roads. Surrealistically, in the last 25 years our budgets have not seen any repayment to trim our locally-financed debt mountain.
Still, while our politicians lavishly spend our taxes, the Central Bank cautions us not to be profligate. Concurrently, banks continue to tempt us to sign for more personal debt – hence the widespread use of credit cards (the adverts say: “register for one and you may win €75”). A dichotomy, if ever there was one. Just talk to university students about how hard they are finding it to make ends meet. Typically, they sacrifice 15 years studying for a degree (free of charge, of course, plus stipends) and on graduating try very hard to get a steady job. They need a cool bank loan to finance a hedonistic dream – a dream that encapsulates a febrile desire to own a fast car and a house, not to forget having a sumptuous wedding and regular holidays abroad. But, as happens with state finances, a personal debt mountain comes at a price. So, at the age of 43, both spouses are still working overtime just to meet the interest payments, let alone pay off the capital portion of accumulated debts.
Yes – young married couples have difficulty remembering that they are alive in the present moment. For them, and other members of the “Facebook” society, there is no moment of true happiness. Without any doubt, the desire to earn more has directly affected our happiness. Do our recollections of the old year (now appropriately signed off along with pompous funeral rites) seamlessly lead us through “moments” of happiness? Perhaps not – considering that happiness is a great treasure, once it comes from within. Hence, the endless pursuit of happiness becomes a quintessential aspect of our lives.
Happiness is different from pleasure. Happiness is an internal feeling and has to do with struggling and enduring and accomplishing. Quoting the Roman poet Horace: “Not the owner of many possessions will you be right to call happy: he more rightly deserves the name of happy who knows how to use the gods’ gifts wisely and to put up with rough poverty, and who fears dishonour more than death”.
To some Greek philosophers, this attitude was the epitome of moral weakness. They considered poverty to be miserable, and in their view happiness only flowed from wealth and power over men. This sophist approach was considered so persuasive that Plato wrote his masterpiece The Republic to argue against its assertion. His philosophy confirms is that money does not buy happiness, at least not beyond a certain point. At this juncture it is wise to lean on our Christian faith to guide us. We should never give up or lose hope when nothing seems to be going right. As with all other barriers to happiness, we must do everything possible to overcome the trials that come our way.
Typically during the outgoing year we may have witnessed many a relationship gone sour and of course this inevitably becomes a major cause of unhappiness. Such problems are a sign of our times and sociologists can tell us of many studies they have undertaken to try to explain their occurrence. It goes without saying such problematic marital and family relationships impinge on our ability to enjoy almost anything. Friendship is such a cherished treasure and our best friends are like glowing candles that illuminate in our lives through thick and thin whatever it takes. The strong bond of friendship needs tact, empathy, cooperation, sympathy and trust to survive. But will we find happiness through lasting friendships in the New Year? Will 2011 turn out to be a generous year? Who knows but we all hope that amid the troubles and tribulations we maintain our sanity and a modicum of happiness. Looking forward to the New Year one can meekly say that it started badly particularly with creepy inflation hitting families in their on-going fight for economic survival.
The paradox still rings loud in my ears as my consciousness is still vivid with memories of the glossy adverts inviting us to reach out for diamond jewellery, fine watches and expensive sports cars. Pity the rich harbouring a graving for luxury and non- affordable items yet their credit card balance can keep them awake at night. Such profligacy makes them reflect on ways on how to improve earnings or take the acid test to reach out for that elusive Platinum card to leverage a tax depleted salary.
To conclude one may take solace that our elected representatives need not worry too much about increased fuel, gas, water and milk prices once they can tap on their unwarranted bounty….for the rest of us we continue to purchase our LPG gas selecting the cheaper variety…..yes colour does matter.
by George M. Mangion
gmm@pkfmalta.com
www.pkfmalta.com
The writer is a partner in PKF Malta, an Audit and Business Advisory firm. |
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