£19m. in the red with spending out of control
Friday 7th May 2010, 2:30PM BST.
STATES expenditure is out of control, latest figures have revealed.
Departments spent £29m. more last year compared to 2008, which equalled an almost 10% rise when States policy is to keep expenditure increases at RPI or below – inflation was 2.2% at year end.
And Treasury minister Charles Parkinson (pictured) has warned the current level of spending by departments is unsustainable.
His department today released the States Annual Accounts for 2009 and highlighted the precarious financial position of the island.
The overall income and expenditure position of the States ended 2009 with a net surplus of just under £1m. However, once appropriations to the capital reserve of £20m. were made the island actually ended the year £19m. in the red.
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Get rid of Govt pensions now!
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did they really need latest figures to find this out ,there great at spending our money
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I am sure like many others the States have spent to much time discussing matters such as, at what age botty sex becomes a sensible pastime.We must tax the locals to support our finacial service industry ,the locals live in local market houses ,considerably cheaper than the money providers can from our open market, this difference should be taxed.
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Toni Bandinee
Would you be willing to expand your post?
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Time to revisit property tax on Open Market share transfers
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And these nutcases want to tax us more to fund this madness?! Enough. No more wastage of OUR money. Cut back on non-essential spending and be RESPONSIBLE. Is it really that difficult?
(And no increases in tax/social security burden for households earning less than £150K (say))
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Toni Bandinee
The people who work high up in the financial service industry are the very people who should be heavily taxed, the only reason these people are here is to benefit from finance and would not hesitate to drop our island like a stone if their ludicrously high salaries were to dry up.
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The only reason we are having these discussions is because Guernsey’s revenue has dropped dramatically.The reason – the zero-ten tax regime.
It’s already been agreed that it is unfair and unsustainable but we are still waiting for the States to introduce an alternative.
I wonder if this is because so many of our politicians are’,business people’ and personally benefit from it.
They should also scrap the tax-cap.I pay tax on all of my income,why shouldn’t the wealthy?
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Toni – I can only assume that you are not a local and are bitter at the fact that you must pay more for the privelege of living here.
You have not lived here all your life therefore you are not entitled to EVERYTHING that the local population get. You’re entitled to what your taxes pay for, but housing is not paid for by your taxes, so please keep your hateful comments out of this forum.
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Simon – Yes
Cynic – Go with the flow ,nutty or not we have created a better Guernsey, Fund Management is not just about picking Horses in the paper, more a creative Art
Kevin – You shot yourself in the foot i believe as you say “these people would drop the Island like a stone if not for high wages” so they would if you tax us highly,simply set up & not pay Tax elsewhere.
I’m certainly not bitter living here jimm only sometimes like others wonder about food pricing have you noticed the overnight increase on chocolate Bon Bons for one,not even the good ones with the strawberry soft center i may add .
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Toni Bandinee yes I wonder too about food prices on Guernsey and I have to say that someone somewhere is making a hefty profit out of food on this island. In Chequers there are fresh legs of lamb on sale for between £23+ and £25+. Identical legs [in terms of weight, quality etc] of fresh lamb are available in the Derbyshire Co-operative stores for £7.99! Now I know you have to pay extra for shipping but surely not three and a half times as much!
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Coyote – How right you are the other day i came across a bottle of Jack Daniels reduced to £24 something ,i believe is currently on offer in a UK chain for £9 .If this is split between duty/tax and transport costs how are we £19M closer to the U bend.
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