Loss of £50m. in GST 'will slow tax changes'
A £50m. black hole left by the rejection of GST means that radical changes to the tax system cannot go 'as far and as fast', Treasury minister Gavin St Pier has warned.
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The Treasury minister said its original plans to increase personal tax allowances up to £17,500 over 10 years would have to be adjusted.
Deputy St Pier insisted the joint 10-year plan, with Social Security, was not too wounded by the number of amendments that had been passed and there were other measures that could help them to raise personal allowance but not as far as they could have with the sales tax.
