The G8, a mix of business leader associations and not-for-profit community groups, has said it is encouraged by the way that Deputy Charles Parkinson’s new sub-committee will proceed with preparations for the GST-plus package and move quickly to look at options to reform corporate tax.
‘We welcome the concurrent progress of key workstreams and the government’s commitment to reaching a final decision on tax before the end of Quarter 2 next year, as there is broad consensus that Guernsey faces a structural deficit and urgent action is required,’ it said.
‘We support diversifying the tax base to reduce reliance on income tax, to a broader -based, balanced tax system that protects Guernsey’s future.’
The new Policy & Resources sub-committee, led by Deputy Parkinson and including three international tax policy experts, aims to reach a final decision on tax reform before the end of June 2026.
Deputy Parkinson said that corporate tax reform or GST would be the only ways to raise the level of funds needed. He has also acknowledged the need for transparency and community engagement throughout the review process.
The G8 said that it had held similar discussions with the P&R committee.
‘We were very pleased they are willing to engage and to see that many of these priorities are either already being actioned or are in the pipeline for action,’ it said.
‘We are also encouraged by their commitment to strengthening communications between committees, which will undoubtedly support a more efficient and constructive working culture.
‘It was a positive and constructive meeting, with the committee clearly focused on delivering meaningful progress in the short term while keeping sight of long-term goals.
‘With collaborative leadership, efficient decision-making and targeted policy action, Guernsey can unlock sustainable economic growth and strengthen its position as a vibrant place to live, work and do business.’
The G8 comprises the Chamber of Commerce, Guernsey International Business Association, Hospitality Association, Construction Forum, Institute of Directors, Guernsey Retail Group, Confederation of Guernsey Industry, and the Association of Guernsey Charities.
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