Use £140m fund on the economy, ministers urged

Friday 27th March 2009, 2:55PM GMT.

MFH_2698 MINISTERS need to start spending the £140 million stabilisation fund now to support the economy, according to a panel of expert advisers.

But the fiscal policy panel say that there are only a few things the States can put money into without causing themselves long-term problems – highlighting benefits for the newly unemployed and capital maintenance projects as options.

And they say that in an Island, there is a danger that any of the stabilisation fund money spent on imports will just leak out of the local economy.

They have advised against changes to GST and income tax and say that any skills investment or benefit increases need to be carefully targeted so that they do not become permanent budget fixtures.

1
phil

March 27, 2009 at 3:57 pm

Let’s spend it quick…
it’s not too late to panic!

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2
annie du feu

March 27, 2009 at 4:18 pm

Please don’t spend it on something which may collapse any way, e.g. the finance industry.
How about a states run ferry company to France or tidal power.

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3
Mistershifter

March 30, 2009 at 9:18 am

Can I have a few quid towards my leccy bill please? Wasn’t lucky enough to get a pay rise this year, work cut back on overtime, stiched up by mortgage company not passing on rate drop. Sure were not the only people in this situation.

A few pounds would come in very handy right now!

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