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WQ.177/2025
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES
BY DEPUTY M.B. ANDREWS OF ST HELIER NORTH
QUESTION SUBMITTED ON TUESDAY 22nd APRIL 2025
ANSWER TO BE TABLED ON TUESDAY 29th APRIL 2025
Question
"Will the Minister advise the total amount of money currently owed to the Treasury, indicating the amount owed for three years or more, and will she detail what plans, if any, she has for using debt payments to restore the Stabilisation Fund, and if no such plans exist, explain why not?"
Answer
The 2024 Accounts (to be published early May) will show sums owing to the States of Jersey (Receivables) of £394 million (excluding amounts due to subsidiary companies). This includes amounts due for taxation, and amounts owing to departments for services provided where there is a charge. It does not include amounts relating to Prior-Year Basis Taxation.
Not all of these amounts are past their due date, for example where a tax assessment has been raised to be settled by payment on account. At the end of March 2025, the total debt overdue was £210 million, of which £72 million has been owed for 3 years or more.
In line with accounting standards, income is recognised in the accounting period in which it accrues, and the same basis is used in financial forecasts included in the Budget. As such the settlement (payment) of debt does not generate additional unbudgeted funds that are available for use.
Repayment of debt does not constitute a windfall - it is funding that has already been allocated. It is therefore not available to restore the stabilisation fund and for this reason I have no plans to use these debts to do so.