​​The Minister for Treasury and Resources, Senator Terry Le Sueur, has published the States of Jersey’s 2003 accounts.

The key points in the accounts are:

• financial discipline was exercised over the General Reserve, the States contingency fund,
  resulting in £24.6 million of the £27.7 million allocated being spent. Some £16.4 million of the amount spent related to pay and pension matters, including almost £5 million for backdated 2002 awards
• over the ten year period to 2003 net revenue expenditure grew by over 92%
  whereas income grew by 70%