'Cautious' first budget from Treasury minister

Treasury minister Gavin St Pier has released his first budget, describing it as 'cautious'.

He confirmed inflation-only (3%) rises in duty on alcohol and fuel, while tobacco duty will rise by 6% (inflation plus an additional 3%).

Deputy St Pier, pictured, also announced the staged withdrawal of mortgage tax relief, starting in 2014, with the tax raised being redistributed.

This will be subject to economic conditions, and to a review, also announced in the Budget, of all taxes, duties and contributions that the States imposes on islanders which is due to be carried out in 2013.

• Full details of the budget report in Friday's Guernsey Press