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STATES OF JERSEY
MEDIUM TERM FINANCIAL PLAN COMPROMISES AND CENTRAL GROWTH ALLOCATION 2014
Presented to the States on 23rd September 2013 by the Minister for Treasury and Resources
STATES GREFFE
2013 Price code: B R.114
REPORT Medium Term Financial Plan (MTFP) Compromises
During the MTFP debate last November, the Council of Ministers agreed to a number of compromises to amendments to the MTFP proposals brought forward by States members.
These compromises allowed the MTFP proposals to be substantially unaltered and a balanced budget position to be maintained over the 3 years of the MTFP. In each case agreement was reached with the respective States member and the affected department such that alternative funding measures were put in place. These alternative funding measures were recorded in the Addendum to the MTFP 2013–2015.
This report is intended to provide all States members with an update on the progress of the various compromises which shows that in almost all cases the various alternative funding measures have been put in place and approved.
The attached analysis shows all the compromises agreed and the current position in terms of funding approval and the progress by the individual departments.
This update of the MTFP compromises complements the MTFP monitoring of growth funding and carry-forwards that is now part of the regular financial monitoring to the Corporate Management Board and the Council of Ministers.
The Minister hopes States members welcome the progress on these important areas, and should there be any questions please contact Laura Rowley, Treasurer of the States, 440215.
Growth Proposals for 2014 – Budget 2014
This report also provides the opportunity for the Minister for Treasury and Resources to fulfill an obligation under Article 10(1) of the Public Finances (Jersey) Law 2005 in relation to proposals for allocations to growth expenditure in the 2014 Budget.
The Minister for Treasury and Resources has consulted with the Council of Ministers in respect of the proposals for the 2014 Budget, including the proposals for allocations from Central Growth to departments.
The Council of Ministers has agreed the proposals to allocate Central Growth to departments in 2014 and 2015 as outlined in the MTFP, representing £2,210,000 in 2014 and £1,460,000 in 2015 (see attached table).
The proposals for the allocations of Central Growth to departments will form part of the Budget 2014 which is due to be lodged on 8th October 2013 for debate at the States sitting of 3rd December 2013.
Growth Proposals for 2014 and 2015
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