Savings and company tax leave a hole
Tuesday 22nd June 2010, 2:29PM BST.
INCREASED corporate taxation and savings from the Financial Transformation Programme are unlikely to cover the multi-million pound deficit in States finances.
The warning came in the Fiscal and Economic Policy Group’s consultation document on the review of the zero-10 tax strategy that was published yesterday.
While it was not yet possible to estimate accurately the continuing structural fiscal imbalance – the States is forecast to run a £40m. deficit this year – it was probable that additional revenue-raising measures would be required over and above savings and the new corporate tax regime.
Four options are listed and people have until 27 August to respond.
- Read the full story in the Guernsey Press. See below for subscription details.
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Sooo another opportunity presents for our illustrious leaders to rationalise squeezing more out of us ordinary citizens then.
No more tax burden on those earning less than (say) £150k per household. Bad enough that the prices of essentials keeps increasing (albeit gradually).
Hint – stop wasting our money, spend wisely and SAVE some! How difficult is that?
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There is no need to raise taxes – they just need to spend our money a little more wisely and live within our means.
Any government has some 10% that can be cut from budgets if the will is there to do it.
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