Jersey

Referendum wanted on wealthy islanders tax rates

People in Jersey could be asked whether the different tax rates for very wealthy islanders should be scrapped.

St Helier politician, Deputy Trevor Pitman, wants a referendum on whether 1(1)K residents should pay less tax.

Last month, the States agreed 1(1)K residents - those on the highest housing licence - would pay 20% tax on their income up to £625,000 and then 1% after that.

Currently all Jersey income is taxed at 20%.

The Treasury and Resources Minister, Senator Philip Ozouf, said they wanted more high-earners to move into Jersey.

But Deputy Pitman, whose attempts to change it were defeated, has come back with plans to put the question to voters in a referendum.

It was thought holding it will cost £30,000, a sum the deputy said would easily be recouped should voters ask the States to abolish the special tax status.

No date has yet been set for the debate.

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