They say if they follow it, ministers will be able to make the most from the recent economic growth. The organisation, which represents more than 600 Island firms, say that they have proposed the plan to leave the Island on a sound financial footing ahead of the uncertainty looming from the move to a zero-ten system of corporate tax in 2010. The Chamber say that the Treasury should: Put all pre-2010 GST proceeds into the stabilisation fund and only use them after 2010. Formally commit to three-year budgeting. Keep to spending limits and put efficiency savings in the bank. Appoint a fiscal panel of economists for an independent view. Fix the rate of GST at 3% on a five-year cycle. Implement no new taxes. Make Business Plan financial reports and predictions fully transparent.
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