STATES members will have the chance to discuss scrapping zero-10 this month, if the Policy Council agrees.

The news came as the Guernsey International Business Association urged the States to react as soon as possible but warned that rushed tax regime changes could damage the finance industry.

Chief Minister Lyndon Trott yesterday assured UK Treasury secretary Stephen Timms that Policy Council would meet to discuss the decision on Monday.

Deputy Trott (pictured) said he would recommend the preparation of a Billet so the States could debate the matter at this month’s meeting, which starts on Tuesday 27 October.

Guernsey International Business Association chairman Paul Meader urged the States to act, but warned that the full situation must be understood before decisions are made.

Mr Meader said he had often heard external threats would bring an end to Guernsey’s industry but as long as they were handled in a measured way, it would survive.

‘However, tax changes do have the potential to damage some areas of the finance industry and this needs analysis,’ he said.

‘First we have to understand what the EU and UK consider to be “compliant”. From that we have to find a system for the future that is sustainable and that enables this island to support public services without further pressures on hardworking families.’