Jersey GST could hit 12% by 2014 if spending continues

Jersey's Goods and Services Tax (GST) may have to hit 12% by 2014 to clear deficits, if the island's government continues to increase its spending.
The "worst-case" scenario has been set out in a report by the Comptroller and Auditor General, Chris Swinson.
He investigated expected deficits if spending goes up at the rate it has done recently - and researched the GST that would be needed to clear deficits.
VAT does not apply in Jersey but GST currently stands at 3%.
In his report Mr Swinson, who examines how public bodies spend money, said: "The figures are illustrative only. In response to the questions put to me, they do no more than show what might happen if certain events occur."
His "pessimistic" estimate of the 2014 deficit was £171m.
The predicted figures were requested by a scrutiny panel of politicians.
Jersey's Council of Ministers recently agreed to a total of £50m in spending cuts over the next three years.
Jersey's treasury minister has said GST will not increase this year. )fom BBC)

Don't think it will be long before Guernsey has GST...

Easiest way to rob Peter to pay Paul!!!