A central proposal being made by ADPD is the push for a cooperative model in employment and entrepreneurship, the party said Thursday.
Party spokesperson and candidate on the second and eighth electoral districts, Mario Mallia, said that ADPD insists that a resilient economy is built on cooperation and shared responsibility. Cooperatives, as a model of entrepreneurship, not only strengthen the local economy, but also reinforce the social and community spirit, inclusion and sustainability. The democratic foundation on which the cooperative model is based leads to workers’ wellbeing and dignity.
Among the measures being proposed by ADPD are:
An amendment to the Banking Act granting cooperatives the right to obtain a banking licence. This would lead to a banking model owned not by shareholders but by members of the banking cooperative itself, supporting social enterprises, green enterprises and housing cooperatives. Within the European Union, cooperative banks provide 30% of loans to small and medium-sized enterprises.
The creation of a Malta Co-Operatives Futures Fund starting with a value of €5 million, managed through a partnership between Malta Enterprise, the Malta Development Bank and the Central Cooperative Fund. The fund would provide capital, guarantees and low-interest loans to cooperatives engaged in the green economy, community care and digital innovation.
The establishment of non-profit housing cooperatives to make accommodation more accessible, especially for young people, while reducing the use of land for speculative purposes. At the same time, unused government buildings would be converted into cooperative residences.
Incentives for cooperatives operating in renewable energy, the circular economy and sustainable food production.
A legal right granting cooperatives, voluntary organisations and community groups precedence in providing public services such as elderly care, community clinics, renewable energy and other local services before any commercial tendering process is launched.
