Home Business Economy & Politics Malta’s Labour party returns to power after 15 years in opposition

Malta’s Labour party returns to power after 15 years in opposition

Malta’s Labour party is returning to power after 15 years in opposition, with a projected win of 55% of the vote in the eurozone state’s election.

Party leader Joseph Muscat claimed a “landslide victory” for his party, with the outgoing Nationalist Party expected to take 43% of the ballots.

Unlike other eurozone states, Malta has prospered in recent years, and the economy did not dominate the campaign.

The Nationalists fell in December after losing their one-seat majority.

Prime Minister Lawrence Gonzi had been in office for just under a decade.

Joseph Muscat, 39, made change the big theme of his campaign.

His main electoral pledge was to reduce electricity prices – believed to be among the highest in the world – by 25%.

Joseph Muscat also promised to do more to tackle corruption.

“I wasn’t expecting such a landslide victory for Labour,” he said after the count in Naxxar, outside the capital Valletta.

“We must all remain calm, tomorrow is another day.”

Maltas Labour party is returning to power after 15 years in opposition 350x220 photo

Malta’s Labour party is returning to power after 15 years in opposition

Conceding defeat, Lawrence Gonzi said he took full responsibility for the Nationalists’ poor result and would not seek re-election as party leader.

“The Nationalist Party needs to begin a reform process and at the same remain rooted in its values,” he said.

Malta, with a population of more than 400,000, is the smallest and one of the most successful economies in the eurozone.

With its strong tourism and financial services sector, the archipelago has relatively low unemployment, a good growth rate and low government debt.

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