Corporate Services Scrutiny Panel Publishes Report on the 2018 Draft Budget Statement
Friday 1 December 15:10
The Corporate Services Scrutiny Panel has published its report on the Draft Budget 2018.
Whilst the Panel generally agrees with the short-term measures being proposed in the Budget, it is concerned with the absence of long-term preparations for the Island’s future financial stability.
The Panel highlight that whilst the state of the economy is improving and employment is at an all-time high, the Government still needs to be cautious with its future planning. With an uncertain economic climate due to Brexit and the potential impact this may have to the Island economy, future Budgets will need to plan for the possible outcomes that may arise.
Deputy John Le Fondré, Chairman of the Panel stated:
“The Panel remain concerned over the medium to longer term future. Whilst Jersey has been successful in meeting the financial challenges that have faced the Island in the last few years, there are further challenges ahead. Next month we should find out the result of the potential European Union blacklist, and longer-term we shall have to navigate the financial impact of Brexit on Jersey. Measures need to be addressed sooner rather than later to meet these potential risks.”
Press Release - Draft Budget Statement Report
Report on the Income Forecasting Model