On the second day of the States Strategic Plan debate, figures released by Treasury Minister Terry Le Sueur show that despite increased spending in areas such as health, social security and housing, public finances should remain in credit over the next five years.
The extra money has come from taxes raised from house sales and from duty on drink, cigarettes and fuel.
Senator Le Sueur said that the figures showed that he was justified in expressing ‘cautious optimism’ that the economy was improving.
The forecasts come as a result of better than expected income from stamp duties and imp?ts – Customs duties paid on alcohol, cigarettes, petrol and diesel.
Figures revealed by Senator Le Sueur to States Members today are about £7 million higher than expected for 2005.