P&R publishes the 2020 budget advising that a major review is needed to decide how to meet the rising cost of public services.
In the document P&R draws the attention of States members and the community to the challenges faced by the island in the coming years.
The committee says Guernsey is well-placed to face these challenges because of a concerted effort by government over a number of years to deliver savings and financial restraint.
'But the scale of it and the speed in which it is beginning to impact cannot be underestimated'
''This year a balanced budget is possible because of a recommendation to reduce the amount transferred to the Capital reserve which is safely manageable given the slower than expected capital programme.'
Pressure to address the sustainability of the Long-Term Care Scheme demands for more access to NICE-TA drugs and treatment and the introduction of the Secondary Pension Scheme will all drive the cost of public services up further, on top of the increasing demand for existing services.'
A pint of beer will cost 2p more, a bottle of wine will increase by 10p and 37p is being put on a packet of cigarettes.
Fuel duty's up 1 point 1% now with a further 1point 1 percent increase from the 1st of January next year.
There has also been a 5 point 2 per cent rise in personal allowances.
Guernsey gives £75k for Islands Unlimited inter-islands sailings
Guernsey tax package to raise more States income but protect low earners
Changes to make Guernsey's buses more reliable
Aurigny plane makes emergency landing after leaving Guernsey
New festival part of Guernsey's Seafront Sunday
Guernsey firefighters tackle round-island walk in full kit
No provider awarded subsidy for seasonal inter-island ferry service
Guernsey's key industry 'stable' in a turbulent world
