Tag "Budget"


Committee proposes £56k increase to Sark budget

A £56,000 budget increase has been proposed by Sark’s Finances and Resources Committee ahead of the midsummer meeting of Chief Pleas on 6 July – and it has warned there could be tax increases to pay for it.

Good news and bad news from UK Budget

Photo By Steve Sarre 17-03-16KPMG Tax and Budget Meeting

THE Channel Islands will be hit by tax changes to offshore companies involved in UK property development, but will benefit from revisions to the ‘non-doms’ regime, accountants KPMG have told a business audience.

HSSD unable to provide evidence of problems

I WOULD not normally wish to pursue a debate via the media. However, my letter to you of 8 February regarding the proposed law to protect vulnerable people triggered two responses. One was from the president of HSSD; the other was the one you published from HSSD’s spin doctor on the 11 February. They drive me to respond because I believe that their replies strike to the heart of what is wrong with some aspects of Guernsey’s government.

‘Leaner’ service will risk future health of islanders

YOUR editorial on 2 January says: ‘And then there is health. Having thrown money at the problem it is time to make good on the promise of a new leaner organisation which does the same excellent job at a greatly reduced cost.’ Money has not been ‘thrown at health’. In 2010 the spend of the department was £107,685,000. If that had kept up with inflation it would now be £128,979,000, £10m. more than it actually is. Keeping up with medical inflation and the increasing number of elderly people requiring medical treatment would have meant an even higher figure.

...and it’s goodbye from him


Seven years after taking up his pen, Peter Roffey has decided to hang it up. When asked to become a political commentator for this newspaper, he accepted with some trepidation. Would he run out of things to say? Never. As he admits in his sign-off column, if anything there has been too much to comment on...

Funding a college for the future

ONE of the less noisier decisions to come out of the Budget debate was news that the College of FE’s bid to move all its operations onto one campus can now start to take shape. For many years it has been the ‘Cinderella’ of our education service, annexed around the island at various, random locations – largely dictated by whatever secondary school closed its doors last.

Paying for the price for saying no to GST

LIKE a naughty schoolboy who has refused to eat his greens it can often feel that the island is still being scolded for not agreeing to a consumption tax. Every bit of bad news for taxpayers comes with the same message: ‘Well, you chose to reject a GST, these are the unpleasant consequences.’

New black hole brings grey days

FOR an informative quickfire summary of how the Bailiwick is doing and what challenges it faces it is hard to beat the annual independent fiscal review. A fact-packed hour of reading sees the economy neatly dissected in the clear, matter-of-fact terms of economist Professor Geoffrey Wood (with help this year from Dr Andrew McLaughlin).

Patience over austerity is not a given

AUSTERITY is not a word that is bandied around much in these islands. Greece, Portugal and Spain perhaps, but not in the relative comfort of sunny, prosperous Guernsey.

Why this Budget is a real stinker

Take shelter: if 2016’s Budget proposals are passed by the States, tax hikes will rain down on us.

We were told that the island’s finances were heading firmly in the right direction, thanks to expenditure restraint. Now the States has changed its tune and 2016’s draft Budget makes shocking reading, says Peter Roffey. Were those claims spin or a gross miscalculation? He’s not sure which is worse...

Budget failures show a legacy of broken promises

Politics money shot

A detailed look at the latest Budget makes for grim reading – and the string of failures and Treasury’s intention to stall voting on £120m. of projects until next term is a big blow to public confidence. People who had hoped that this would be a ‘States of Change’ probably didn’t expect those changes to be for the worse...

‘Horrific’ attack on retail – Creaseys


IT HAS been a shock, ‘out of the blue’ and a ‘horrific’ attack on the industry, a leading retailer has said, after Treasury announced plans to raid retail profits as part of plans to balance the books and spend £8.2m. more on health.

States finds new ways to inflict pain

TWO large carrots were dangled in front of islanders when the States proposed its personal tax and benefits review. One was that it was revenue neutral. This was not to be a means of fleecing islanders in many extra ways, it was a question of rebalancing the books so the island was not so heavily dependent on income tax.

Budget’s sting will need good arguments behind it


With the release of the 2016 budget today, the island will begin to get an inkling of whether or not the States has made all the savings it promised during the last year. Nick Mann predicts that the minister is going to face a lot of questions over plans to raise extra funds through new taxes, even if the controversial GST is off the table...

Fuel up, other rises to spend more on health


FUEL duty will be hiked, personal income tax allowances frozen and large retailers hit by tax increases, under a string of proposals in the 2016 Budget, to help cover a rising health budget.

Early steps cut risk of tripping over

THEY are too polite to say so but there must be quiet satisfaction in the corridors of Sir Charles Frossard House when they look across the waters to Jersey. In a month’s time Jersey States will be debating its Medium Term Financial Plan, designed to guide the island through to 2019.

Sometimes the ‘Guernsey way’ is right


The year-on-year, real-terms reduction in HSSD’s budget has been like watching a flawed pressure cooker waiting to explode, says Peter Roffey. But that doesn’t mean that just throwing cash at our health service will cure all its ills...

Mind the gap

(John Gomez/Shutterstock)

A look at George Osborne’s budget tells us that the gap between the UK’s low-paid and Guernsey’s is growing – and not in our favour. All but the highest earners here are actually paying more tax than their UK counterparts, who are to enjoy a rise in their personal allowance and in the minimum wage. Peter Roffey makes some unfavourable comparisons and considers the way forward for us