Business leaders warn States: ‘just stick to cost-cutting targets’
Friday 31st May 2013, 3:00PM BST.
THE States must not buckle in meeting its promised cost-cutting targets, the business community has warned.
Business figureheads gave the warning as Treasury conceded that a ‘Plan B’ was needed after projections that the Financial Transformation Programme would fall millions short of its target.
Treasury and Resources minister Gavin St Pier made the admission in the States meeting, but the news was greeted with concern by the business community.
Mark Palfrey, pictured, chairman of the local branch of the Institute of Directors, said that with inevitable tax rises on the way, it was vital that the States showed it was doing all it could by meeting its efficiency targets.
Former Guernsey Investment Fund Association chairman Horace Camp has previously called for the FTP to be scrapped and a new solution brought to the table.