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Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Treasury Minister welcomes States tax decision

07 April 2011

"I am very pleased that States Members voted by a significant majority of 39 to 12 to reject a proposal to introduce a higher rate of income tax for higher earners.

"The 20% flat rate of income tax has been the foundation of our post-war success. This vote sends out a message of stability to the global participants in the Island’s main industry.

"The Treasury conducted a wide-ranging consultation on personal taxation last year, after which the Council of Ministers supported the conclusion that a higher rate of income tax would have negative consequences. States Members then approved the 2011 budget.

"That sent a strong and powerful message that we support maintaining the foundation of our economy – our 20% income tax rate.

"I hope this resounding vote ends all speculation that the Island is anything other than committed to the long-standing, standard tax rate of 20%. The message that goes out today is one of certainty, stability and competitiveness.

"With sound public finances, no debt and a firm 3-year plan to bring our budget back into balance, we can now concentrate on attracting high quality, lucrative business and on creating new jobs for Islanders."

Treasury Minister - Senator Philip Ozouf

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