"The island is living beyond its means"

Wednesday 19 July 2023

The Chair of the Institute of Directors, Guernsey branch, has warned the island is "living beyond its means" and that the States' financial deficit needs to be "distilled properly".

Glen Tonks warned the island's current path is "not sustainable" having read through the States accounts and having kept abreast of the Government Work Plan which have both been debated by politicians this week.

The IoD's lead for local economic matters also shared his thoughts. Richard Hemans said the situation is "truly mind-boggling" - you can read that in full HERE.

Mr Hemans and Mr Tonks have both queried the reliability of the State's figures and highlighted how difficult that makes it to evaluate the island's fiscal standing. 

Mr Tonks said: "It is clear that the island is living beyond its means and this path is not sustainable, however, the £135m deficit needs to be distilled properly for strategic decision making to happen.

"Firstly, we believe that Deputies should make a decision about the island’s spending priorities.

"Secondly, we urge Deputies to work together, to collaborate and align behind solutions to the very urgent challenges the island needs to overcome.

"Equally urgent is the work required to develop a complete understanding of the island’s financial picture."