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Personal tax, pensions and benefits review essential – IoD members told

Treasury and Resources minister, Gavin St Pier, outlined the necessity of the personal tax, pensions and benefits review for the island’s business community at the Heritage Insurance-sponsored Institute of Directors’ monthly lunch.

The presentation, in the 2015 IoD lunch theme of growth and enterprise, emphasised the necessity of the review in ensuring a sustainable future for Guernsey.

Deputy St Pier said: “This debate is about the speed at which we move, not whether we should be moving.

“The real success of public engagement is that there is finally recognition of the challenges that we face as a community.”

The minister explained the dangers of deferring any discussion on the review any further, warning that all decisions could be postponed until well into the next term and that this would not be healthy or productive.

Long-term thinking is one of the principal requirements of the review, which acknowledges that any changes will have an impact in the future but this will be beneficial as there will be time to iron out issues.

The minister said: “For example, in relation to changing the States old age pension age, we have 34 years to address the misgivings of those who won’t, or can’t, keep the same job over all of that time.”

This sentiment was echoed by the social security minister, Allister Langlois, who also spoke at the event.

Deputy Langlois said: “We’d like to ask all of you here to reinforce the message that these questions have to be answered. This is a ten year programme so any transition will be slow but necessary.”

Feedback on the IOD lunch can be submitted to the following email address: branchofficer@iod.gg

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