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IoD chairman warns of higher taxes impact

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HIGHER taxes could 'trigger a dangerous tipping point' in the island's economy, the chairwoman of the local branch of the Institute of Directors has warned.

HIGHER taxes could 'trigger a dangerous tipping point' in the island's economy, the chairwoman of the local branch of the Institute of Directors has warned.

Writing in the local IoD magazine, Anne Ewing, pictured, said her committee remained supportive of the States' Financial Transformation Programme.

'An FTP is a "big ask" to make of any organisation, and particularly in government, as it involves new thinking and a transition into a new architecture of working,' she said. 'But it has to happen if we are to avoid higher taxation, which could trigger a dangerous tipping point in our economy.'

For the IoD and the wider business community to stay in support of the process would require 'better and more frequent communication' on progress, she added.

'We need a demonstrable willingness by a government that was elected on a "ticket of change" to tackle the difficult decisions that now must be made.'

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