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P.157/2010 Expenditure Proposals for 2012 and 2013 and Draft Budget Statement 2011 - Third Amendment - Amendment

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A decision made 26 November 2010 regarding: P.157/2010 Expenditure Proposals for 2012 and 2013 and Draft Budget Statement 2011 - Third Amendment - Amendment.

Decision Reference:  MD-TR-2010-0161

Decision Summary Title:

P.157/2010 third Amendment -amendment

Date of Decision Summary:

25th November 2010

Decision Summary Author:

Interim Treasurer of the States

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

P.157/2010 third Amendment -amendment

Date of Written Report:

25th November 2010

Written Report Author:

Tax Policy Advisor

Written Report :

Public or Exempt?

Public

Subject:

Expenditure Proposals for 2012 and 2013 and Draft Budget Statement 2011 (P.157/2010): third amendment – amendment

Decision(s):

The Minister decided to lodge au Greffe Expenditure Proposals for 2012 and 2013 and Draft Budget Statement 2011 (P.157/2010): third amendment – amendment for debate in the 2011 Budget.

Reason(s) for Decision:  

P157/2010: 3rd amendment proposes that food and domestic fuel are exempted or zero-rated from GST.  Should this be agreed by the States, then the Treasury Minister’s amendment to this proposes an increase in the general GST rate to offset the loss in GST revenue from the original Budget proposal.

Resource Implications:  

Manpower : None. Financial : Increase GST revenue with the exemptions system by £4.8 million in 2011, offsetting the cost of those exemptions each year.

Action required:

Forward the amendment and accompanying report to the Greffier of the States and request that the projet be lodged ‘au Greffe’ and set down for consideration by the States during the 2011 Budget debate.

Signature:

 

 

 

 

Position: Senator  P F C Ozouf, Minister for Treasury and Resources

 

                 

 

Date Signed:

 

Date of Decision:

 

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