Jersey goods and services tax raises less than hoped

The States did not raise as much as they originally had hoped from Jersey's goods and services tax.

The government budgeted for more than £50m in revenue from GST but it brought in about £7m less.

The figure was revealed in the financial report and accounts for 2010, which also showed a deficit £70m for the year.

Treasury Minister, Senator Philip Ozouf, said it was difficult to predict income from a new tax.

He said: "As always some income tax and tax forecasts come in below and some come in above.

"The first experience of goods and services tax was never going to be absolutely certain because we had never run that sort of tax before.

"And of course as a result of the economic downturn of the last 18 months or so, there has been less money circulating in the economy and... as governments around the world have found their indirect tax revenue has fallen."

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