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Last Updated: Sunday, 9 October 2005, 11:37 GMT 12:37 UK
Minister loses faith in Treasury
Guernsey's Home Department minister has no faith in the Treasury's handling of the island's budget deficit.

The States is considering plans to plans to abolish corporation tax to keep companies in the island.

As well as this, new taxes are being considered to cover up to 45m in lost corporation tax income.

But Deputy Mike Torode says the Treasury has not got it right in the Green Paper and more investigation about sales tax needs to be done.

He said: "This 40-page document has just half a page about the sales tax and it says 'we are not prepared to introduce it'.

"There is no rationale, no argument, no figures and the Treasury has let everyone down by not producing a properly-backed argument.

"All they are doing is promoting like hell for leather for increased social security payments."




SEE ALSO:
Tax reform may hit middle earners
30 Sep 05 |  Guernsey
Concerns over tax reforms debate
16 Aug 05 |  Guernsey
Date set for tax reforms debate
15 Aug 05 |  Guernsey
Chamber remains upbeat on economy
08 Aug 05 |  Guernsey
Island to comply with EU tax law
27 Jul 05 |  Guernsey
Overspending tops States agenda
26 Jul 05 |  Guernsey


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