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States Greffe: Scrutiny
Nick Dodsley
President
Jersey Estate Agents' Association
By email 23rdNovember 2021 Dear Mr Dodsley
Corporate Services Scrutiny Panel
Government Plan 2022-25 Stamp Duty & Land Transaction Tax
The Corporate Services Scrutiny Panel is reviewing the Government of Jersey's Government Plan, which outlines the Government's spending plans from 2022 - 2025. Further information for this review has been published on its section of the website and the Terms of Reference are appended to this letter.
The Panel are currently gathering evidence relating to its review and would like to invite the Jersey Estate Agents' Association to make a submission. A particular area of interest would be your views on Government proposals to not alter Stamp Duty or Land Transaction Tax in 2022 and any impact you would foresee if this, in future, was increased to charge additional amounts to properties purchased with the intention of privately renting the accommodation as a buy to let or holiday home or as a second home and whether it should be tiered like other stamp duty rates.
As you will appreciate the Panel is conducting scrutiny to a tight timeframe, as such it would be most appreciative if any comments on the matter could be returned by Thursday 25th November 2021.
Yours sincerely
Senator Kristina Moore
Chair, Corporate Services Scrutiny Panel
States Greffe: Scrutiny | Morier House | St Helier | Jersey | JE1 1DD Tel: 01534 441080 | email: scrutiny@gov.je | web: statesassembly.gov.je
Government Plan 2022 - 2025 Terms of Reference
Corporate Services Scrutiny Panel
- To undertake a review of the sections/projects of the Government Plan 2022- 2025 which are most relevant to the remit of the Corporate Services Scrutiny Panel, using the following criteria as a guide:
• Where funding over £500,000 has been allocated
• Where funding has been withdrawn or decreased significantly from the previous year
• Where funding has been increased significantly from the previous year
• Projects which the Panels consider are of most concern (as a result of, for instance, delays, deferrals, overspends or because they are not in keeping with Common Strategic Priorities)
• Projects which have been identified as of concern by stakeholders
• Projects which are contentious and/or in the public eye.
• Projects where insufficient information has been provided and more information is sought
• Concern is held on the project's alignment with Common Strategic Priorities, social impact and impact upon children.
- To determine whether those projects align with Ongoing Initiatives, Common Themes and, ultimately, Common Strategic Priorities.
- To consider whether the resources allocated to the projects is sufficient or excessive.
- To review of the success or otherwise of projects agreed in the previous Government Plan for 2021.
- To assess the expected impact on the ongoing delivery of public services, by Minister, through rebalancing of Government finances.
Budget
• To examine income raising, borrowing and debt management proposals
• To explore how spending will be funded
• To clarify how States expenditure has materially evolved
• To ascertain individual departmental budgets and their feasibility based on future spending
• To examine the deliverability of capital projects
• To consider rebalancing and borrowing plans being sufficient or excessive to meet stated
aims.
Financial, economic and growth forecasts
• To examine the levels of income against expenditure
• To examine the assumptions made for the economic forecasts
• To explore the impact of the financial and economic forecasts in Government Plan 2022 on the Stabilisation Fund
• To explore the continued impact of Covid-19 on the financial envelope'
Design and implementation of the Government Plan
• To assess reserves; their use, and how they are allocated
• To consider how the treatment of contingencies/reserves, or any other areas of non- routine proposals have evolved in respect of the Government Plan
• To consider the overall fiscal soundness of the Government Plan