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Jersey Mini Budget


2112
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There was a post yesterday on IOMNP and in todays Manx Independent that Jersey propose a mini budget to address the cost of living. Amongst the ideas mooted are increasing the personal allowances to over £18500 for a single person, increasing benefits and decreasing social security such as NI contributions. They propose increasing the minimum wage to £10 ph from October then increasing to £10.80 from January 2023. They talk of collaborating with estate/letting agents to prevent higher increases of rents (as opposed to legislation). 
 

Jersey seem to be a lot more nimble and agile whilst the Isle of Man is obsessed with wasting money, on its power base, friends and hangers on. I’m sure IOM Treasury will be aware of Jerseys proposals and I’m sure the clamour and noise to do the same here will be loud. Sadly I can’t see much action, especially as the budget is next year in February. 

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I propose an upwards salary revision for politicians and civil servants, a large increase in grants for farmers and landowners and bigger tax breaks for HNWs and developers. This will cause more money to circulate throughout the economy thus stimulating economic growth.

After all, we've been told this for years and it's served us so well that a bit more of it is all we need to tide us over this current crisis surely?

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This island has serious problems, most caused by its politicos and civil servants. Now IOMG have commissioned KPMG to do their economic strategy, are they going to be advising IOMG and the Treasury as to their response to Jerseys proposals, which I would say is likely to be adopted? As Jerseys proposal is to increase the minimum wage from October then from January 2023 by an additional 0.80p, presumably they would have consulted various interested parties? Here consultation by IOMG is a dirty word and shoddily adapted, and rather than be nimble, and thorough with the relevant parties, it’s stuck in a time warp. 

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We have zero flexibility, government denials about recessions and a general lack of action all round.

Seems we wait for the UK to tell us what to do rather than manage our own affairs.

Dr Alex has proven no better than Nobel laureate Ashford MBE

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13 minutes ago, 2112 said:

This island has serious problems, most caused by its politicos and civil servants. Now IOMG have commissioned KPMG to do their economic strategy, are they going to be advising IOMG and the Treasury as to their response to Jerseys proposals, which I would say is likely to be adopted? As Jerseys proposal is to increase the minimum wage from October then from January 2023 by an additional 0.80p, presumably they would have consulted various interested parties? Here consultation by IOMG is a dirty word and shoddily adapted, and rather than be nimble, and thorough with the relevant parties, it’s stuck in a time warp. 


My reading - so far - is that CoMin have written their own Economic Plan using info provided by KPMG

The latter are not responsible for the plan

It is corporate government thinking it knows best, as ever

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4 hours ago, SleepyJoe said:


My reading - so far - is that CoMin have written their own Economic Plan using info provided by KPMG

The latter are not responsible for the plan

It is corporate government thinking it knows best, as ever

Why? What a waste of taxpayers money. 
 

A new leader of the Conservative Party and new Prime Minister will be in place 5 September 2022. Liz Truss has pledged a mini budget to address the cost of living. Other jurisdictions are addressing this, and applying the thinking that everyone benefits. The IOM do not want to know, they are obsessed with other things living in a different bubble. There answer is targeted help. The trouble is what was once affecting just the poor is now affecting everyone in one way shape and form. Jersey accepts this, hence the increased personal allowances proposal and increased benefits. The IOM will just make excuses, or waffle instead of coming up with ideas and action. Foodbanks, Food Poverty and Summer Schemes are a Manx Success story, I envisage before long, soup kitchens making a return.

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2 hours ago, 2112 said:

Why? What a waste of taxpayers money. 
 

A new leader of the Conservative Party and new Prime Minister will be in place 5 September 2022. Liz Truss has pledged a mini budget to address the cost of living. Other jurisdictions are addressing this, and applying the thinking that everyone benefits. The IOM do not want to know, they are obsessed with other things living in a different bubble. There answer is targeted help. The trouble is what was once affecting just the poor is now affecting everyone in one way shape and form. Jersey accepts this, hence the increased personal allowances proposal and increased benefits. The IOM will just make excuses, or waffle instead of coming up with ideas and action. Foodbanks, Food Poverty and Summer Schemes are a Manx Success story, I envisage before long, soup kitchens making a return.


A social media commentator has the view that it's all intentional & that Captain Cannan is to lead us into a corporate city state/free port entity where we will all pay to survive

Not sure how different it is from what we've already got

Reduced social benefits, no free NHS or education I suppose

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7 hours ago, cissolt said:

We have zero flexibility, government denials about recessions and a general lack of action all round.

Looking at the Bank of England actions today our government isn’t going to be able to hide behind the argument that we aren’t technically in a recession for much longer. It’s bloody obvious that we have entered a recession even if the traditional markers haven’t yet clearly manifested themselves due to a unique set of circumstances coming out of a global pandemic. 

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39 minutes ago, SleepyJoe said:

It's being blamed by the BoE on energy price rises

Being interesting to see if all the EU countries also go into recession

Specifically gas prices. Which means their rate rise will have no effect other than to plunge borrowers into greater debt and actually put the UK deeper into recession because nobody will have any money to spend and grow the economy. 

It's all going rather horribly wrong. Why, oh why, do people keep voting right wing lunatics in. 

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7 minutes ago, Ham_N_Eggs said:

Specifically gas prices. Which means their rate rise will have no effect other than to plunge borrowers into greater debt and actually put the UK deeper into recession because nobody will have any money to spend and grow the economy. 

It's all going rather horribly wrong. Why, oh why, do people keep voting right wing lunatics in. 

In all honesty the energy crisis could have happened if left wing nutters were in charge. It would be worse as they are obsessed with climate change, and will stop people from using gas, oil or coal. This is a price we are paying for the Ukrainian crisis. 

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