A total of £25 million not spent last year is to be re-distributed, with £19 million allocated to fund ongoing projects and the remaining amount returned to the States’ current account.
As part of the ongoing project funding, £6 million will be injected into the ring-fenced reserve for the Long Term Care Fund.
Treasury Minister Alan Maclean has said that the move will help to delay increases in the contributions paid by Islanders to fund the Long Term Care Scheme, which helps to pay for care for the elderly and those with long-term illnesses – from January 2015 all Islanders were required to pay 0.5 per cent of taxable income into the scheme, with those on a marginal rate of tax paying only a proportion of the percentage.
