The GSD has said that Mr. Picardo “continues to hide behind smokescreens in order to deflect criticism over the reckless way” in which has he managed the public finances in the last five years. The party adds that the Chief Minister’s position has been neither “consistent nor coherent.”

A statement from the Opposition continued: “In 2011, when in Opposition, he told the people of Gibraltar that the GSD was addicted to debt and our public finances were in a woeful state. Once elected as Chief Minister he proceeded to spend more over the next four years than the GSD did in 16 years in Government.

“In 2015, he told people that the public finances were sound and that there was sufficient money to pay for yet another extravagant manifesto, only to borrow another £300 million within months of the election secured by a mortgage over Government housing estates.

“It is his reckless spending over the last five years that are the cause of early signs within the Government of the introduction of austerity measures.

“The GSD reiterates that if it is elected into Government it will make the loans made by Credit Finance Co Limited public. To compare Credit Finance Co Limited to a licensed bank is nonsensical and the comparison is simply designed to mislead people. Credit Finance Co Limited is a Government owned company entirely controlled by the Government. It is the Government who decides who benefits from loans. The money used to make those loans is the people’s money and people are entitled to know how it is being spent.

“On Brexit neither the GSD nor the Leader of the Opposition have suggested that the Government is not doing anything. What the GSD has said is that Mr. Picardo cannot continue to spend and incur more debt as if Brexit were a figment of our collective imagination and that his proposal for Scotland and Gibraltar to remain within the EU while England and Wales exit, in wholly unrealistic. This is not only our view, it is also the view of the UK Government as seen by the comments of the Chancellor, Philip Hammond, within the last few days.

“Finally Mr. Picardo has an unhealthy obsession with the GSD. The GSD is very happy with its public meeting. Feedback has been excellent and the meeting was very well attended. We understand that the last time the GSLP held a meeting in the Charles Hunt, the shouts of disappointment from activists could be heard reverberating across the building.”

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