Senator Francis Le Gresley wants to increase the fee that finance firms pay to escape GST and to use the money to fund a 2% rise in income tax thresholds – the earnings point at which Islanders start to pay tax.
Ministerial budget proposals would increase the finance company exemption charge for GST from £100 to £200, and increase tax thresholds by 1.1%.
But if Senator Le Gresley’s proposals are approved, the exemption charge – or ISE fee – would go up to £225 to fund a 3.1% rise in thresholds.
