Cannan leads charge on pensions deficit

Tuesday, 16 February 2016 14:34

MHK alarmed at further use of reserves

Michael MHK Alf Cannan has described the Treasury minister's fiscal strategy for the Island as 'a standstill budget from a standstill government'.

Mr Cannan expressed serious concern over Eddie Teare's plans for restoring public finances without the use of government reserves.

In the debate which followed the Budget, Mr Cannan accused ministers of running government without a cohesive, joined-up plan.

Mr Cannan said a top-to-bottom spending review should begin, to find savings and re-draw priorities.

A six year forecast unveiled by Mr Teare today shows continued use of reserves to pay public sector pensions until 2021, when the fund will be empty.

Mr Cannan told the Court the pensions liability is now the biggest single risk to balancing the Island's books:

Share