20% Means 20% Report and Proposition.

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A decision made (15/05/2006) regarding 20% Means 20% Report and Proposition.

Subject:	20% Means 20% Report and Proposition
Decision Reference:	MD-TR-2006-0068	Exempt clause(s):		n/a
Type of Report: (oral or written)	Written	Person Giving Report (if oral):		n/a
Telephone or e-mail Meeting?	n/a	Report File ref:		JM/01/15/05/06
Written Report – Title	Phasing out Allowances for Taxpayers on Higher Disposable Incomes	Written report - author		Julian Morris – Fiscal Strategy Programme Manager
Decision(s): To agree to present to States Members on 19th May 2006, the attached Report and Proposition.
Reason(s) for decision: In May 2005 the States agreed to the principle of phasing out tax allowances for taxpayers on higher disposable incomes as part of a package of measures aimed at replacing the tax revenues lost by the move to 0/10% corporate rate of tax. The purpose of this proposition is to approve the detail of the phasing out of the allowances for higher earners over a five year period, commencing 2007, in order to achieve the target yield from the tax of at least £10m.
Action required: Approve the release on Friday 19th May 2006 of the attached Report and Proposition and inform the States Greffe accordingly.
Signature: (Minister/ Assistant Minister)			Date of Decision: 15th May 2006