JNP Fight Inflation Budget 2025

November 15, 2024

The Government has released their plans to fight inflation, releasing a separate budget from their September budget. Chief Minister says, “Me, the Chancellor and the rest of the cabinet have worked hard for this budget, although it may not be perfect, we believe it will bring inflation down to help the working people. The Conservative Government lied and covered up what they could afford to spend, and they have left a £20bn black hole in public finances, which means difficult decisions in next months budget. For this budget, it is about halving inflation, with next months budget paying for it all”. “We will be introducing free public transport for all, from 1st September to 31st December, which the government will subsidise, costing £60 million. Furthermore, we are glad to announce rent caps on those staying in state-owned homes to just 2.5% a year. We will be capping rent rises from private landlords to just 9.5% a year, providing relief to thousands of islanders as their rents have more than doubled this year alone. Alongside this, we will be handing each islander a £250-local credit card to spend on island, to help boost the economy - costing the government £45.5 million. More information will be announced in due course. In order to help working people during this cost-of-living crisis, we will be putting a 10% cap limit on all bills until 31st December starting from next month. Islanders will not see their bills rise more than 10% a month. We will also be fining any petrol stations not passing any fuel duty cuts to the pumps, 10% of their profits. Furthermore, I am glad JNP can be the party to lead to the abolishment of Social Security payments, there will be a 1.5% cut to SS payments - and from October 1st, islanders will no longer see it in their paycheck - putting more money into islanders pockets. Lastly, to further help islanders - we will be cutting GST from 5% to 2.5% from Monday, which means all goods will see a price drop of 2.5% - including local shopping”.

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