New warning on tax ‘black hole’

And Senator Jim Perchard’s panel has called upon the Treasury to take forward an alternative proposal to ‘extract some loot’ from non-locally owned businesses such as high street chain stores. Meanwhile, the latest proposals could result in a one-year tax holiday for the self-employed if plans to change business tax assessments to a current-year basis are approved. Next week, the States, says Senator Perchard, are to be asked to create an up to £95 million ‘bloody great hole’ in the Island’s finances and ‘seem to be using Elastoplast to fix it’.