GST up to 5% in crisis Budget

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GST up to 5% in crisis Budget

Post by GD on Fri 22 Oct 2010, 3:31 pm

Senator Ozouf outside Cyril Le Marquand house: Dozens of jobs will be lost if the proposed £65 million is wiped from States' department budgets

GST is to rise, higher earners are in line to pay more Social Security and States departments are to be dramatically cut under a hard-hitting Budget plans announced today.
In one of the toughest budget statements for decades, Treasury Minister Philip Ozouf has ended months of speculation and revealed that he plans to increase GST from three per cent to five per cent.
The minister also revealed plans to:
* Increase social security payments for Islanders earning more than £44,232
* Increase stamp duty on properties worth over £1 million
* Hit smokers, drinkers and motorists with duty increases
* And wipe £65 million from Statesí departmentsí budgets next year as part of a wide-ranging cuts programme which will result in dozens of job losses.(from BBC)

Going to be tough over the next few months

......THE BOSS......

"Always be yourself because the people who mind don't matter, and the people who matter don't mind"


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Re: GST up to 5% in crisis Budget

Post by Thistle on Fri 22 Oct 2010, 5:09 pm

i would think our budget will hit the easy targets to..smokers,drinkers and drivers..its time the rich were paying more via the tax system x

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Re: GST up to 5% in crisis Budget

Post by The Gimp on Fri 22 Oct 2010, 5:50 pm

its a proven fact that you cant tax the rich or get money from the banks, they ( the banks ) have already threatened to take money out the island with that 50k depositors protection scheme they were having to contribute towards...

The Gimp

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Re: GST up to 5% in crisis Budget

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