Economy: Past the worst

Guernsey's economy is beginning to pick up and the island's tax take for this year is expected to be bigger than expected.

Collections for the first six months more show a real growth of 1%, and Treasury Minister Charles Parkinson says there are other signs of recovery.

More jobs are becoming available - the latest figures show the first decline in more than two years. Deputy Parkinson cautiously speculates that unemployment could well have passed its peak.

The amount of tax collected so far this year stands at just under £80m. That compares with £77.4m for the same period last year. By the end of the year tax income is expected to be £2.5m ahead of budget.

Elsewhere in the economy, visitor and airport passenger numbers remain buoyant and property sales volumes are at pre-crisis levels.

The signs, says Deputy Parkinson, remain optimistic. He says the island is in good shape to tackle the continuing fallout from the global economic turmoil.