Income tax dependence is dangerous – minister
INCOME tax receipts have fallen short of 2013's budget predictions, the Treasury minister has said.
Published
Deputy Gavin St Pier announced at yesterday's Chamber of Commerce lunch that he expected to give an update at the next States meeting.
It was predicted that the States would receive £292m. from Income Tax last year.
'Receipts have fallen short of budget – not disastrously so and there is growth on 2012 – but the risks are apparent and we should not dismiss it lightly,' he said.
Deputy St Pier, pictured, made the point while highlighting the need to diversify the island's tax base.
The ongoing tax, pensions and benefits review looks set to introduce some form of consumption tax.
