What is the way forward for Guernsey in terms of taxation?
What is clear is that we simply cannot continue to fund the States committed expenditure from current tax income.
Guernsey needs to raise around £220m a year for the foreseeable future from cutting expenditure or tax rises if we do not want more borrowings or to sell off our investments. Not the much quoted £85m - £90m.
Our paper looks at the possible options available.