The States of Guernsey set up the Panel earlier this year to ".. act as an independent arbiter on the conduct of States’ fiscal policy and provide an annual public judgement as to whether or not the States is conducting its fiscal policy within the constraints set out in its own Fiscal Framework."
Overall it seems that the States are doing pretty well. The report concludes that the budget deficit is well within limits, and that "On-budget expenditure and revenue are well within the historic norm". It evidently also seems likely that, if things carry on as they are, the cumulative budget will be within the Contingency Tax Reserve limits, which is certainly good news.
Follow this link to access the full report.
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