𝗕𝗼𝘀𝘀𝗮𝗻𝗼 𝗰𝗼𝗻𝗳𝗶𝗿𝗺𝘀 𝘁𝗵𝗲𝗿𝗲 𝗶𝘀 𝗻𝗼 𝗦𝘂𝗿𝗽𝗹𝘂𝘀 𝗳𝗼𝗿 𝟮𝟬𝟮𝟯/𝟮𝟰

𝗕𝗼𝘀𝘀𝗮𝗻𝗼 𝗰𝗼𝗻𝗳𝗶𝗿𝗺𝘀 𝘁𝗵𝗲𝗿𝗲 𝗶𝘀 𝗻𝗼 𝗦𝘂𝗿𝗽𝗹𝘂𝘀 𝗳𝗼𝗿 𝟮𝟬𝟮𝟯/𝟮𝟰

In the Budget debate this week in Parliament, Sir Joe Bossano confirmed that there was no surplus in the year ended 2023/24. This was in response to why the presentation of the outturn had changed from a contribution of £30 million to Government companies within the originally estimated surplus of £2.5 million for 2023/24 to an advance/loan of £27.6 million which is excluded from recurrent expenses and the announced surplus outturn of £1.9 million.

Roy Clinton MP the GSD Shadow Minister for Public Finance stated the following:

“Sir Joe Bossano was clear in Parliament that there was no surplus in 2023/24 and £10 million had to be used to pay interest from the sinking fund instead of the Consolidated Fund because of the financial situation.

There is no getting away from the fact that Government overspent by £65.1m in departments which Sir Joe confirms. Increases in Revenue have not covered that extra spending. The numbers have been deliberately fudged to pretend there was a surplus and that financial stability has been achieved.
For the Government to now suggest that both I and the Leader of the Opposition are lying is to deny the plain truth that even Sir Joe Bossano openly acknowledges.

The public can decide for themselves who is lying and why.”