Personal Tax Review
The Personal Tax, Pensions and Benefits Review is the first comprehensive review of personal taxes, allowances and benefits that has been undertaken. It is a joint report by the Treasury and Resources and Social Security Departments. It aims to meet the challenge of controlling States income and expenditure levels while enabling our community to maintain the standards of living and public services that it enjoys, expects and needs. The review's recommendations will be debated by the States in late March 2015.
The report contains a package of measures which seek to:
- Establish how big our Government should be by placing a limit on the amount of money the States should take out of the economy
- Manage the amount we spend on things like old-age pensions by planning effectively
- Look at the benefits we pay to everyone, regardless of their income and try to target these more effectively
- Reduce our income risk by taking less money from income tax and social security contributions and more money from other types of taxes
These changes will not happen all at once.
Some things, like a potential consumption tax need more work to be done before the States can make a final decision. The States is being asked to look at the work done so far, and to decide if further work should be done to look at the pros and cons more closely.
Other changes need to be introduced gradually over a ten year period, and all the changes need to be co-ordinated so that the whole process is balanced.
A full copy of the report and the appendices which accompany it can be downloaded from the bottom of the page.
Also available for download are:
- A leaflet explaining what this review might mean for you
- A document and leaflets explaining the principles of the review and the issues it aims to tackle
- Details of the public engagement and consultation undertaken to date
- A report on the feedback received from the public consultation