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Review: Mini−Budget Review - Economic and International Affairs Panel

Committee/Panel: Economic and International Affairs Panel
Launch Date: 9 August 2022 Close Date: To be advised
Submissions Deadline: To be advised Ministerial Response Date: To be advised
Review Status: Comments published

Comments Published

About

P.80/2022 Mini-Budget 2022 (re-issue) was lodged on 2nd August 2022 by the Council of Ministers with an earliest debate date of 13th September 2022.

The purpose of the Mini-Budget is to deliver on the Chief Minister’s commitment to alleviate the impact of the cost of living crisis on Islanders. 

The purpose of Economic and International Affairs Scrutiny Panel’s review is to sit alongside a separate review being conducted by the Corporate Services Scrutiny Panel and to look specifically at what consideration the Government has given to the economic impact of the measures outlined in the Mini-Budget and associated report.

The objectives of this review are to establish the input and views of the Minister for Economic Development, Tourism, Sport and Culture and the Chief Economic Advisor on both the short and the long term impact and the methodology used for developing those views. 

The review will also seek to gather information and data which will inform future, broader reviews by the Panel of the Island’s economic strategy.

Terms of reference

  • Establish the consideration given by the Minister for Economic Development, Tourism, Sport and Culture to the economic impact of the measures outlined in P.80, including his view of and input into:

    • part e of the proposition, namely: postponing the commencement of the obligation for offshore retailers to register under the Goods and Services Tax (Jersey) Law 2007 from 1st January 2023 to 1st July 2023. 
    • The understanding of the potential impact of an increase in minimum wage and, additionally, wider consideration of the implications of delaying an implementation of the living wage.
    • Whether the commitment to encourage landlords to cancel or reduce rent increases in the short term will have sufficient impact on the cost of accommodation and, therefore, the current staffing crisis.

  • Establish the view of the Chief Economic Advisor of the impact that the measures will have on the economy, with respect to the foregoing matters, in both the short and the long term and the methodology used to establish these views. 

  • Gather information not outlined in the CSSP Terms of Reference in order to enhance the evidence gathered by Scrutiny and to provide data which may inform future, broader reviews by the Panel of the Island’s economic strategy.