GUERNSEY are just putting off their 'black hole' and have not filled their upcoming deficit, according to Treasury Minister Terry Le Sueur.
And Senator Le Sueur is adamant that it is not fair to compare Jersey's £96m deficit and the expected leftover deficit of £25m in Guernsey. He says that while Jersey's approach to the predicted £96m shortfall in 2009 is to fill it completely, Guernsey's approach involves spending their savings and leaving a £25m deficit from 2010 to 2012.
Criticising a headline on the front page of Friday's JEP as 'misleading', he said: 'Jersey's solution is to maintain our policy of balanced budgets and no structural deficits. It is true that in order to avoid a structural deficit we are introducing GST, but this is a prudent approach, and on our current predictions the rate of 3% can be maintained until 2015 or beyond.
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