Business backs the Budget
Saturday 23rd October 2010, 3:00PM BST.
Ray Shead
BUSINESS leaders have cautiously welcomed yesterday’s Budget proposals.
In one of the hardest-hitting Budget statements for decades, Treasury Minister Philip Ozouf revealed plans to increase GST to five per cent and force higher earners to pay more Social Security payments. The minister also announced duty increases on fuel, alcohol and tobacco.
Speaking shortly after the proposals were outlined to business leaders at a briefing at the Town Hall, Chamber of Commerce president Ray Shead said that there was ‘nothing unexpected in the Budget’.
He said: ‘There was nothing desperately new or unexpected in this. ‘I think we all knew that once the three-year moratorium on GST had expired it would soon be going up.
‘However, the increase in Social Security payments is a tax on the payroll. It would be on both employees and employers and potentially could make people think twice about recruiting.
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As long as Chamber of Commerce president Ray Shead also accepts that there is even more reason for people to shop off island !!!
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And we wonder why? anything to do with the fact it favors the rich?
The only positive cut is that to reduce the funding to the private schools.
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A disaster for the economy. A tax on jobs and a tax on the least able. No creative thinking,same old solutions. Our government continues spending with total immunity no accountability like children with sweets, our sweets.
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2. James Veal
How exactly does raising social security contributions for higher earners and increasing stamp duty on more expensive properties constitute favouring the rich?
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@ James,
Please explain how this budget favours the rich?
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Richard – exactly right in your points. It seems as though the majority of commentators on this blog simply want to live from States handouts from a Tall Poppy syndrome that exists from these trolls.
Even welathy look at this and are worse off, but they dont’ go rabbiting on about how unfair it is, they realise (with intelligence) that it is necessary.
The wealthy are the ones who suffer the most unfairness from paying such a large contribution through taxed incomes, receiving no handouts, and usually (like myself) have private health insurance, so operations etc., are paid for by my insurance, not from government handouts.
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Real truthseeker 6.
Of course these Budget proposals don’t favour the rich, they’re simply not as hard as they could be on the really welathy…I suppose that’s how YOU pronounce ‘wealthy’ when your ‘fake’ British standard accent slips!
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Has RT got ‘Tall Poppy syndrome’ set up as a macro?
He certainly likes ‘rabbiting on’ abotu (sic) it!
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“The wealthy are the ones who suffer the most unfairness from paying such a large contribution through taxed incomes, receiving no handouts, and usually (like myself) have private health insurance, so operations etc., are paid for by my insurance, not from government handouts.”
But elsewhere you admit that your salary is paid through Monaco so you can avoid tax and Social Security!
If you are not paying anything in why should you expect anything out?
I know of one 1(1)K who had a liver transplant on the Jersey health system. His private insurance had no intention of paying and the alternative was letting him die so the generous Jersey tax payers ponied up the cash!
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