Prices back to £1 after tax rise

Discount store Pound World is bringing its prices back to £1 after a new tax in Jersey sent them higher.

The island shop added 3p onto its prices in May when the goods and services tax (GST) was introduced.

But Pound World said there was a dramatic fall in customers and it has decided to absorb the tax.

GST was introduced because the government will receive less tax from the finance industry following a new zero-rate corporation tax.