New Budget focuses on building Jersey's £710M hospital and easing cost of living

Friday, 2 August 2024 08:51

The government's 2025 Budget focuses on building Jersey's new hospital at Overdale and freezing duty on certain products to ease costs to islanders.

The Council of Ministers have reprioritised areas they would like to see improved and will be curbing spending.

A key part of the Budget is ensuring enough funding to provide good quality services to islanders and improve the standard of living in Jersey.

If approved by the States Assembly, the Budget wants to see:

Building begin on the new acute hospital facilities at Overdale,
Help given to extend nursery and childcare provision,
A move towards a Living Wage in Jersey, with help for businesses,
An increase in personal tax allowances,
And a freeze on alcohol and fuel duty.

The government believes the latter two focuses will ease the cost of living pressures islanders are currently facing.

Plans have already been approved by the Common Strategic Policy, which looks to solve immediate challenges people in Jersey have.

The Budget takes priorities set out by the CSP and puts them into achievable, bite-sized actions.

Chief Minister Lyndon Farnham, says the 2025 Budget is a commitment to building a secure future for Jersey.

"By aligning our financial resources with the Common Strategic Policy, we are taking steps to address the most pressing challenges facing our Island."

Chief Minister Lyndon Farnham

Treasury Minister Elaine Millar, adds:

"Maintaining sound public finances is paramount.

"This Budget strikes a balance between necessary investments and fiscal prudence, ensuring we can sustainably support vital services and initiatives that benefit all Islanders."

Treasury Minister Elaine Millar