Air of gloom dispelled by cash surplus

Gone is the doom and gloom of much of the last decade, where the emphasis was on belt-tightening and an all-consuming drive towards filling the dreaded ‘black hole’.

Gone, too, are the frequent looks over the shoulder at those golden years pre-2008 and Zero 10 when money simply poured into the States coffers without too much effort being required.

Caution is still there, of course, and revenues must be balanced against expenditure. No one is suggesting a free-for-all. Far from it.

But rather than develop a permanent rick in its neck, the States at last seems determined to look squarely forward.

Instead of simply reacting to the vicissitudes of the world economy and hostile EU tax commissioners, the emphasis now is on taking control of the island’s fortunes.

This more positive outlook may only be possible now that the black clouds of recession have receded but, regardless, it is welcome.

With a little bit of money in its back pocket the island can once again take some control of its own fortunes.

Granted, the twin horsemen of Brexit and an ageing population are riding over the horizon – but they too seem less intimidating when the accounts show an overall annual surplus of £113m. rather than a deficit of tens of millions.

Suddenly the choices are not all about which budget to slash, what new tax to employ and which service to start charging for. Instead it is whether to start building up the island’s depleted rainy day account, transform the public sector or spend millions backing new business ideas.

Or should Policy & Resources simply give taxpayers a nice boost to their finances by increasing personal tax allowances.

And let’s not forget the need to invest in infrastructure. As La Mare High so graphically illustrates, the States has been foolishly stingy in the past and let schools, hospitals and ports fall apart when the money was there.

Having a bit of cash after so long without is a nice position to be in. Deputies must not waste the opportunity.