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Social Security (Amendment of Law No. 9) (Jersey) Regulations 201-

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A decision made 24 August 2015:

Decision Reference: MD-S-2015-0071

Decision Summary Title :

Social Security (Amendment of Law No. 9) (Jersey) Regulations 201-

Date of Decision Summary:

24 August 2015

Decision Summary Author:

Policy Principal

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

NA

Written Report

Title :

WR Social Security (Amendment of Law No. 9) (Jersey) Regulations 201-

Date of Written Report:

24 August 2015

Written Report Author:

Policy Principal

Written Report :

Public or Exempt?

Public

Subject: Lodge the draft Social Security (Amendment of Law No. 9) (Jersey) Regulations 201-

Decision(s): The Minister decided to lodge ‘au Greffe’ the draft Social Security (Amendment of Law No. 9) (Jersey) Regulations 201-

 

Reason(s) for Decision:

As part of the overall package of measures included in the Medium Term Financial Plan 2016-2019 (MTFP), a number of short-term funding options have been included to ensure that the much-needed public investment in capital, restructuring costs and investment to drive productivity and economic growth can be provided.   One of these measures is a reduction in the level of funding provided to the Social Security Fund. To implement this change, the Minister for Social Security is proposing to amend the formula used to set the States Grant to the Social Security Fund and to fix the Grant at £65.3 million (the 2015 level) for 2016, 2017, 2018 and 2019 - the period of this MTFP.

 

Resource Implications: Under this proposal, the Grant to the SSF will be fixed at 2015 levels (£65.3 million) throughout the MTFP.  This will reduce the increase otherwise required in the Social Security Department's cash limit by £2.5 million in 2016 (already reflected in the MTFP).

The Grant to the SSF will be £261.2 million over the MTFP period rather than £282.0 million.  The overall reduction is £20.8 million which represents less than 2% of the SSF Reserve Fund balance. There are no manpower implications of this proposal.

 

Action required: Policy Principal to request the Greffier of the States to arrange to lodge the draft Regulations ‘au Greffe’ on 25 August, to be listed for debate at the States sitting of 06 October 2015.

Signature:

 

 

Position:

 

Deputy S.J. Pinel

Minister for Social Security

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

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