13 May Chamber concerned about Social Security reforms
The Chamber of Commerce has raised concerns about the proposed social security reforms that will make up the ‘+’ part of the GST+ package the States are considering bringing in.
Under GST+, changes would be made to income tax allowances and social security allowances would be introduced to offset the impact of the proposed goods and services tax.
With just two months to go before the States are asked to approve or throw out the planned introduction of GST+, the Chamber of Commerce has said it has concerns about the proposed social security reforms saying local businesses need to engage now, before decisions are made.
What is Chamber concerned about?
• Material and ongoing increase in employment costs
• A significant shift of cost onto employers
• Additional increases layered on top of already agreed rises
• Increased complexity and divergence from simpler international systems
• A system that increasingly resembles a form of income tax
• Changes to payroll systems required no system in the world can deliver the proposed structure
Chamber is holding a member briefing next week to address these concerns. The GRG will be represented and will update retailers post event.
Any retailers who are independently members of the Chamber of Commerce are encouraged to attend too.
The briefing will be held on 21 May at 8am at Camilla’s cafe at Mill Place (Rue de Pre). Register your attendance HERE.