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Guernsey Authorities Approve Budget

by Jason Gorringe, Tax-News.com, London

03 December 2007


The 2008 Guernsey Budget has been approved by the States authorities, it has emerged.

Treasury and Resources Minister, Deputy Lyndon Trott said that comprehensive backing from States members, and the acceptance of only two minor amendments from eight raised, was backing for a "job well done" by his department.

The Budget is the fourth presented by T&R.

According to the government:

"States revenues are doing better than ever, the ‘grey hole’ has shrunk to no more than GBP25m., and, while exerting financial restraint, the department has found extra money for the priority areas of health and education, and can put money aside for a major capital project in the next few years."

"Indirect tax increases and income tax allowances removed or phased out should only have a modest impact on most islanders."

Commenting following the conclusion of the day and a half of debate on the Budget, Deputy Trott announced that:

"As a result of members’ decisions today, Guernsey and our economy can go into 2008 with confidence."


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