Posted 10/9/2023, 5:05:47 AM
Experts Warn of Unsustainable Finances in Guernsey, Call for Urgent Fiscal Action
- Guernsey's government finances are on an unsustainable path, warned a panel of experts
- The island has insufficient tax revenues and declining financial reserves
- Low taxes and aging population make spending cuts harder
- The panel said more aggressive fiscal action is needed now to avoid higher costs in future
- Declining infrastructure and credit ratings are potential consequences of fiscal deterioration