Finance in the Community
States Approve 2018 Budget
30th November 2017
A controversial retail tax will be levied on Jersey’s largest retailers
States Members have agreed it as part of the 2018 Budget.
The Public Enterance to the States Chamber
The 20% tax on a handful of retailers making more than £500,000 a year proved the biggest sticking point.
It has been agreed, despite a failed attempt to halve it, warnings from the trade it will put UK chains off opening here, will push up prices and
has thrown a £20 million shopping development into doubt.
To most islanders though, the budget will mean a bigger income tax break. Changes to allowances will cut a single person’s tax bill by £91 and a couple’s by £156
12,000 spouses will get an extra boost, with second earners’ allowances rising by £850 (to £5,850) – equal to co-habiting couples.
Motorists and drinkers will face duty rises on petrol, diesel and alcohol in line with inflation. Smokers will face much bigger hikes in cigarette and tobacco prices. They will rise by more than 7%.
Higher polluting cars will be more heavily taxed.Vehicle Emissions Duty – paid when a car is first registered- will go up by 5%.
£57.85 million will go on capital projects including the new ales Quennevais school, and refurbishments at Grainville and St Mary’s.
The Budget also saw:
a vote to demand the States pay parish and island wide rates on their properties in 2018.
* a pledge to extend grants to cover the cost of university tuition fees in full or in part for every eligible student in 2018
* the promise of reviews into online VAT and GST charging and pricing in the liquor trade.
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