07 April 2011
"I am very pleased that States Members voted by a significant majority of 39 to 12 to reject a proposal to introduce a higher rate of income tax for higher earners.
"The 20% flat rate of income tax has been the foundation of our post-war success. This vote sends out a message of stability to the global participants in the Island’s main industry.
"The Treasury conducted a wide-ranging consultation on personal taxation last year, after which the Council of Ministers supported the conclusion that a higher rate of income tax would have negative consequences. States Members then approved the 2011 budget.
"That sent a strong and powerful message that we support maintaining the foundation of our economy – our 20% income tax rate.
"I hope this resounding vote ends all speculation that the Island is anything other than committed to the long-standing, standard tax rate of 20%. The message that goes out today is one of certainty, stability and competitiveness.
"With sound public finances, no debt and a firm 3-year plan to bring our budget back into balance, we can now concentrate on attracting high quality, lucrative business and on creating new jobs for Islanders."
Treasury Minister - Senator Philip Ozouf