Guernsey’s Chamber of Commerce will closely monitor economic progress under the zero-10 tax package. It welcomes the States decision last week to back the Policy Council’s recommendations.

‘I am relieved that this has been finally put to bed and that business and the people of Guernsey can finally move forward in a positive way,’ said president Mark Trenchard.

‘For me, this has been an approach of working out what we perceive as the best solution, not just for one area of business or specific sectors of the population, but for the island as a whole.’

He added that Chamber believed the package ticked all those boxes and fundamentally was acceptable to the outside world.

It would continue to monitor the progress over the coming months and years of the anticipated growth and public spending.

‘Let us be clear here; this is the beginning of a process, development of the proposals is inevitable. But government has also made a commitment to controlling expenditure and running a deficit will certainly keep a firm focus on this matter over the coming years.’

Prior to of the debate, Chamber had issued a joint letter with the Guernsey International Business Association, Institute of Directors and Confederation of Guernsey Industry to all deputies supporting the Policy Council proposals.

‘We did this to show that the collective voice of Guernsey business was behind the proposals and the message was very strong,’ he said.

‘I for one, am proud to have signed that letter and I look forward to future economic prosperity in Guernsey. Though it is equally clear that this is just the start, at least we have the platform that puts the island in a competitive position on the international stage.’