Introducing his proposals for £558m worth of taxation in 2010, the Senator said that the new comprehensive spending review process would be tougher than any previous efforts, and that only after all possible savings had been identified would new taxes be brought forward to make up deficits of between £50m and £68m stretching out ahead.
Debate has begun on next year’s Budget, which includes rises of nearly 10% in duty on tobacco and fuel and a 6.2% increase in alcohol duty. The Budget also sets out plans to introduce a duty on car emissions, but not until September, by which time ministers say that economic recovery should be beginning.
In his introductory Budget speech, Senator Ozouf also praised his ministers and the States for their backing of a fiscal stimulus fund to keep the economy ticking over, saying that the Island’s economic picture would look much bleaker without it.
• Senator Ozouf’s speech in full: Click here
