Finance and Economics are considering raising the cap on payments, both for staff and employers.
It will mean middle to high earners and companies paying more.Vice-president Senator Philip Ozouf told the JEP today: ‘We are working closely with the Employment and Social Security Department and we are determined to integrate proposals for social security and taxation in the coming months.’Senator Ozouf told a Chamber of Commerce lunch yesterday that the committee was committed to tackling spending before raising revenue.
And he said nothing was being ruled out, including VAT.’No tax is being singled out or ruled out.
Yes, the committee is looking at changes to social security including lifting the cap and funding more health care from social security type tax.’Yes, the committee is looking at changes to personal taxes, particularly higher earners.
Yes, the committee is also evaluating different sales taxes and the effect and revenue implications.’Islanders will know what the committee plan to do in November, when their conclusions and recommendations will be made clear in the Budget.