Another black hole

JERSEY could face a new £60 million tax ‘black hole’ by 2012.
The panel of expert economists who advise the Treasury Minister and the States have warned that a ‘structural deficit’ in States finances is emerging.
And they say that States Members have to act now to tackle spending pressures at departments as well as long-awaited pressure from the ageing population and the New Directions health strategy.
The Fiscal Policy Panel says that the deficits ‘require tough decisions on cutting spending or increasing taxation’ and that States Members have to show discipline about approving new spending. (from thisisjersey)

More GST on the way...

Mmm-Cutting spending ?or Increasing taxation? Like our politicians Jerseys would find it hard to go for the former but theirs like ours will find a future of diminishing returns

Well with the politicians we got the black hole will just get bigger GST = 15% within a year