In his proposition, Andrews said the recent ministerial decision to transfer \u00a3114,259,000 from the reserve to the Social Security Fund to compensate for reductions in the States Grant for 2025 and 2026 “sets a dangerous precedent”.<\/p>\n
He said to “restore order to public finances”, the States Assembly must work towards “sustaining current account surpluses”.<\/p>\n
He added: “Future current account surpluses should be transferred to the reserve funds to complement investment returns and increase the Reserve Fund value over the long term.”<\/p>\n
As part of its budget, the government said it would lower the States Grant for the next few years to help invest in other services including health and children.<\/p>\n
“This avoids the need to raise new taxation or make substantial expenditure savings in the long term,” it said.<\/p>\n
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