Jersey business leaders say they are concerned measures in the budget will damage competitiveness.
Budget plans for next year were released by the Finance Committee on Tuesday.
They include increases in tax for homeowners and motorists, as well as smokers and drinkers.
But Chamber of Commerce president Bob Hassel says he is disappointed with the level of commitment from the States and wants more cuts in spending to be made.
Despite efforts to tighten spending and a forecast that States spending will rise by only 1% next year, it is expected Jersey's government accounts will go into the red by £4m.
Taxpayers are being targeted this time round, with the usual rises in indirect and direct taxation, but with a few other measures thrown in.
Those include capping mortgage tax relief to one mortgage and increasing tax for motorists.
But Mr Hassel says too much burden is being put on taxpayers and there should be more balance.
He claims the level of competitiveness for businesses is being affected and says more hard decisions need to be made.