This year’s Budget shows a surprising £95 million shortfall from 2013 to 2015 against the targets set out in the States’ Medium Term Financial Plan, which was agreed just two years ago.
A range of emergency measures has been proposed to balance the books, including clawing back money from States-owned utilities, raiding criminal and drug confiscation funds, reducing pay budgets and taking money out of new housing funds.
Here are the main taxation proposals affecting next year at a glance…
Duty increases
2.2% on fuel (a penny per litre)
1.7% on beer (a penny on a pint)
4.7% on tobacco (22.4 pence on a packet of 20 cigarettes)
1.7% on all Vehicle Emissions Duty bands
6.9% on weak cider (1.1 pence per pint)
6.9% on standard cider (2.2 pence per pint)
8.7% on strong cider (4.6 pence per pint)
1.7% on spirits (21.7 pence per litre)
1.7% on wine (2.4 pence per 75 cl bottle)
Tax
Increase exemption thresholds by 1.7%
Tax allowances frozen
Capping mortgage interest relief
