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Group: Moderators
Last Login: 01 July 2008
Posts: 14, Visits: 125 |
| Good Morning
Following the Kern Report and the States 2008 Business Plan I wanted to report back to you on the results of subsequent consultation with members, professional bodies and government.
The main results are as follows:
Our quest to make government spend less and save more remains undiminished given that States spending has increased by over 90% in ten years.
There are serious risks to local business in supporting calls to defer GST.
The current States 2008 Business Plan isn’t strong enough to prevent further overspending and provide reserves in case of tougher economic times ahead.
Therefore, we have put together an 8 point plan, the full details of which can be viewed on our website:
http://www.jerseychamber.com/news/archive/article/policy-paper-on-government-spending-gst/
The three key demands in that plan are as follows:
GST receipts, once income support has been deducted, must be ring fenced and retained so that it can be used in the future to provide stability for the economy.
The States should approve and stick to three year budgets, to keep spending under control, and treat savings as exactly that - not an opportunity for reinvestment.
The planned review of price marking is delayed until 2010, when it forms part of an overall review of GST (including exemptions policy). That is to ensure businesses can select how they want to mark prices and know that their considerable investment in equipment and software can be spread over three years rather one.
Yours sincerely
Clive Spears
President
The Jersey Chamber of Commerce and Industry Incorporated
Chamber House
25 Pier Road
St Helier
Jersey
Channel Islands
JE1 4HF
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