Use of Stabilisation Fund to add stimulus to the economy through the economic downturn and support employment and businesses.

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A decision made (08/04/2009) regarding: Use the Stabilisation Fund to add stimulus to the economy through the economic downturn and support employment and businesses.

Decision Reference: MD-TR-2009-0053
Decision Summary Title:	Fiscal Stimulus		Date of Decision Summary:	7 April
Decision Summary Author:	Dougie Peedle Economic Adviser		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	Dougie Peedle
Written Report Title:	Dealing with the Economic downturn: policy for the use of the Stabilisation fund and discretionary fiscal stimulus.		Date of Written Report:	7 April
Written Report Author:	Dougie Peedle Economic Adviser		Written Report : Public or Exempt?	Public
Subject: Proposal to use the Stabilisation Fund to add stimulus to the economy through the economic downturn and support employment and businesses.
Decision(s): The Minister approved the report and proposition on ‘’Dealing with the economic downturn: policy for use of the stabilisation fund and discretionary fiscal stimulus’’ to be lodged au Greffe at the earliest opportunity with a request for debate on 19 May 2009.
Reason(s) for Decision: Following advice from the Fiscal Policy Panel and Economic Adviser and discussions with the Council of Ministers the Minister has decided that in accordance with the States Act dated 5th December 2006 in which they approved the establishment of a Stabilisation Fund, the purpose of which was to make fiscal policy more countercyclical and create in the Island a more stable economic environment with low inflation, he will ask the States to agree that the time is right to use the Stabilisation Fund in the manner set out in the R&P.
Resource Implications: £44m is to be transferred from the Stabilisation Fund to the Consolidated Fund to fund an economic stimulus package.
Action required: Attached proposition and report to be sent to the Publications Editor of the Greffe by the Economic Adviser and request that it be lodged at the earliest opportunity with a request for debate on 19 may 2009.
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed: 8th April 2009		Date of Decision: 8th April 2009