States criticised for 'inaction' over improving public finances

STATES incomes have fallen nearly 5% in cash terms since the introduction of zero-10 corporate tax in 2008.

Deputy Lyndon Trott in his 2007 Treasury minister role giving a ‘roadshow’ presentation ahead of the introduction of zero-10. (0498026)
Deputy Lyndon Trott in his 2007 Treasury minister role giving a ‘roadshow’ presentation ahead of the introduction of zero-10. (0498026)

STATES incomes have fallen nearly 5% in cash terms since the introduction of zero-10 corporate tax in 2008.

States revenue income in 2007, the last full year before the tax changes, was £365m. In 2011 income was just £347m. – still representing a significant recovery from £331m. in 2010.

Public incomes are budgeted to recover and move ahead of the 2007 figure for the first time this year.

Yet Ernst & Young tax partner Graham Parrott has expressed surprise that the States – having identified in March 2009 the need for ‘urgent action to reduce the structural deficit’ – has barely taken action to improve public finances.

Comments for: "States criticised for 'inaction' over improving public finances "

Peter

You could have just said "States criticised for ‘inaction’" The list is ever growing of items not resolved and decisions not taken.

There would be a lot more progress if some deputies were left to do their jobs rather than deal with others who simply wanted to be “jobs worth”. I’m still a firm advocate for fewer deputies and Island wide voting which would certainly remove some of the less worthy candidates who often just end up seat filling.

SaintsBay

The more things change the more they stay the same.

Still - when Belle Greve Bay - sorry Venice Beach is developed we will all be alright.

Its coming !

Go on Dep Kev - you know you want to !!!