The States' books are balanced, says Gorst

gorst

THE States books have been balanced nearly three years ahead of schedule, the Chief Minister has revealed – just two years after minsters warned there would be a budget shortfall of £125 million by 2019.

Senator Ian Gorst said that accounts due to be issued within the next few weeks would show that the Island’s economy had grown by 2.2 per cent – more than double the forecast – with income higher than the Council of Ministers had expected.

His message comes after a predicted shortfall of £125 million in States finances – dubbed the ‘black hole’ – in 2015 sparked a wave of public sector job cuts and proposals for a new health charge, benefits cuts and user-pays fees, in order to fund priorities in health and education.

But on Tuesday the Chief Minister said there had ‘never been any black hole’ and added that the growth in the economy showed that the Council of Ministers’ plans were working. He said the financial services industry now employed over 13,000 people – more than in 2007, before the global crisis – with States income showing a good return on investments as a result of the Brexit ‘bounce’.

In the private sector, assets under administration and management had grown, with jobs growth in areas other than banking, he said.

‘Our economy is doing incredibly well, although that brings challenges. Our finances have turned the corner and are healthy, income is above what is expected, departments have spent less,’ Senator Gorst told a business audience at the launch of Enterprise Week.

He added: 'We must do all we can, but balancing the books early on is a good thing.'

Subscribe to our Newsletter

Subscribe to our mailing list

* indicates required

Comments for: "The States' books are balanced, says Gorst"

del

This is great news by our hard working C M AND his team, now sort out the rest of

the trouble we are in , the stress you have put us under, nurses ,teaches, health workers

o a p, you are on very thin ice and this will not save you .

AJ

Depends what you believe ,is it just words with an election round the corner...we all need to see the proof as quite honestly there good at spinning the news to suit themselves!

Andre

So finance now employs more people than in 2007? Err but, hasn't the population risen by about 10,000 since then Mr Gorst? And have those new finance jobs gone to those new arrivals by any chance?

j_longsden

what great news, all that money paid to spin doctors is paying off.

Squawkie L Pelican

This happened despite the government, not because of it.

When's all this success going to start trickling into my pocket? I'm sick of struggling month to month just to get by. Another pal and his family are off. Same salary in UK but he'll be able to buy a house and his tax bill is about the same as here without the massive cost of living.

tony.t.1.

Yipee.. clap hands here comes Charlie..now climb out of your bubble and sort out hardworking health staff...teachers etc...reward the hardworking people who deserve it.

Tim South

Then why all the car parking, driving licence, company registration, planning department, waste charge increases and load of other increases, taking more money of working people, if the books are balanced ?

Can the Jersey public rake seriously anything you say ? If you believe what you are saying Sir, then the cost for residents to live here should be stable or going down, not continuously going up.

You are talking *x_*+**^X

the original bill

Ah, so we can now look forward to seeing no more increased to the health tax, road tax, income tax, GST and all the other reasons for charging the man in the street more whilst corporations pay nothing

Sotte Voce

I'd have thought that various imposition could well be reduced if what Gorst says is true. Road tax is only one thing which seems to be budget specific, alcohol duty and income tax offsets are another.

Bob

Health tax, Yup. they want that in

Long term old age rich persons benefit is expected to rise to 5%

Income tax, GST, Import duties will all go up.

But we dont have a road tax. Jersey cannot even consider introducing one without abolishing the parishes and getting rid of the 800 years of law.

.

income tax is something which they are tampering with and road tax, which was placed on fuel in 1993, is also susceptible to this sort of attention from the budget makers

jsy3

This is more spin. If this is correct its frightening that they had no idea till now and how does that reflect on the honesty and competency of the management systems within our public sector .Then there are the messages concerning the deficit. I still believe that's correct you only have to see the lack of expenditure on basic infrastructure and the ancient legacy IT systems that aren't covered by the new Egov proposals. Also its convenient timing for some but at the same time undermines the credibility of our C O M 's. I wonder who is writing Senator Gorst's speeches it certainly doesn't seem to be someone whose judgement can be trusted.