"JERSEY'S EVENING PROPAGANDA"
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Monday, 20 August 2012
"Ozouf In Cloud Cuckoo Land"
‘Optimistic’ targets may hit States plans
Treasury Minister Philip Ozouf
TREASURY Minister Philip Ozouf has given the clearest indication yet that ministers could be forced to rewrite States spending plans if their optimistic economic recovery targets are downgraded.
A team of independent economic experts will review the three-year spending plan in October and it is looking increasingly likely that they will reduce ministers’ growth forecasts.
That would mean ministers would have to either run a deficit or raise taxes and cut spending to balance the books.
It is understood that tentative plans are being drawn up for a new fiscal stimulus package to kickstart the economy.