TREASURY and Resources is one step closer to the ‘holy grail’ of accounting – zero-based budgeting, its former minister has said.

GUERNSEY urgently needs to reposition itself as a different type of economy, the retiring Treasury and Resources minister Charles Parkinson said yesterday.

DEREGISTERING all but three Guernsey Qrops looks like a ‘spiteful’ attack by the UK taxman, penalising the island alone, the Treasury minister said yesterday.

Treasury and Resources is to review funding of the Ecclesiastical Court.

GUERNSEY Electricity did lose money on its investment in Marine Current Turbines, the Treasury minister has revealed.

GUERNSEY will defend its corporate tax regime next week when European officials meet to decide its future.

Treasury minister Charles Parkinson has blamed a systemic lack of accountability for the States failure to deal with serious performance issues and call officers to account.

UNDER-INVESTMENT in capital projects is damaging for the local construction industry, building firms have said.

GUERNSEY is still just as competitive as Jersey, despite that island having its zero-10 regime rubber-stamped, the Treasury and Resources minister has said.

THE States has overstated its reserves in the 2010 accounts by failing to comply with an accounting principle to demonstrate its pension deficit.