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WQ.284/2019
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY R.J. WARD OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 2nd JULY 2019
Question
Will the Minister advise –
- on what date did the Minister become aware of a prospective £30 to £40 million deficit in public finances;
- what data was used to calculate this deficit; and
- at what points in time does the Minister plan to review the projected level of the deficit during the period of the Government Plan?
Answer
The incoming Council of Ministers was briefed by the Treasurer shortly after taking office on the financial position. A potential deficit of £30- 40 million for 2020-2023 was identified in the Budget Statement 2019, based on forecasts using the latest information available at that time. As a result an efficiency programme was put into place in 2019 to address the gap by 2020.
The Government Plan will present the forecast surplus/deficit position for 2020 to 2023, and is being prepared with regard to the Fiscal Policy Panel recommendations to run surpluses during this period. Each year the Government Plan will continue to consider the forecast positon, and appropriate actions to ensure that the States finance are sustainable.