​​The Minister for Treasury and Resources, Senator Philip Ozouf, has published the States of Jersey’s 2007 accounts.

The key points in the accounts are:

• income rose significantly in 2007 to £559 million, being £46 million more than the original budget. The main increases were in the yields from personal income tax and stamp duty, and were in accordance with the revised forecast included
  in the 2008 Budget

• in 2007 the spending of States non-trading departments rose by 3.3% to £480 million. Not only was this increase less than the rate of inflation, but it was also the smallest annual increase in States’ spending in over 20 years

• allowing for net revenue and capital expenditure of £480 million and £42 million respectively, this results in a year end surplus of £37 million to add to the Consolidated Fund, a much healthier position than the original 2007 Budget forecast of a £3 million deficit