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The Corporate Services Scrutiny Panel has begun a review of the 2014 Budget.
The Budget, published by the Minister for Treasury and Resources on 8th October 2013, contains a number of proposals, including that the marginal rate of Income Tax be reduced from 27% to 26% and that Impôts on tobacco, alcohol and fuel be increased. The Panel will consider these proposals and those relating to the funding of major capital projects. The Budget asks the States to approve borrowing up to £250 million to fund long-term housing capital requirements and to use the Strategic Reserve to fund a replacement hospital.
The Panel will begin gathering evidence with a public hearing on Friday 11th October 2013 with the Assistant Minister for Treasury and Resources, Deputy Eddie Noel. The Panel is also keen to receive written submissions from any interested parties on the Minister’s Budget proposals and the potential impact that they may have.
Chairman of the Panel, Senator Sarah Ferguson, said: “In the 2014 Budget, the Minister will ask the States to make a number of significant, almost unprecedented, decisions – reducing the marginal rate of tax; borrowing up to £250 million; and using the Rainy Day Fund for a new hospital. Such significant proposals require careful consideration and we will therefore be questioning the Minister to ensure that his proposals are well-founded and that the implications of their adoption can be clearly understood.”
The details of the Public Hearing are as follows:
Witness: Deputy Eddie Noel, Assistant Minister for Treasury and Resources
Venue: Blampied Room, States Building
Date: 11th October 2013
Time: 9:30am – 11:00am
The Panel will continue to gather evidence through October 2013 and will hold a second public hearing with the Minister on 24th October 2013. The Budget will be debated by the States on 3rd December 2012, ahead of which the Panel will report to the Assembly with its findings.
