The 64 million pound question
Monday 6th April 2009, 2:58PM BST.
AN inquiry into how the States calculates future spending is being launched after it was revealed that forecasts were millions short of actual expenditure.
The investigation will be conducted by a sub-panel of the Corporate Services Scrutiny Panel amid concern there is a lack of information about how the Treasury prepares future spending estimates.
The group will be chaired by Senator Sarah Ferguson, who also leads the main panel.
She said: ‘I am concerned that forecasting may no longer be within tolerable accuracies.’
But Treasury Minister Philip Ozouf said that forecasts were affected by States spending decisions.
• Picture: Senator Sarah Ferguson
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Very scarey and stating the obvious from the um big O.
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A States Forecast is impacted by States spending ?
Gosh…it all seems so simple now !
Seems little point preparing a States Budget as it is also presumably based on the same estimating system.
….just simply let them (over)spend…after all,it’s only our money.
Ah well…at least the majority of the expenditure is in Sterling, so they can’t mess up the exchange rates..or then again ?!
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