The Council of Ministers wants to reduce social security contributions by 2% between the start of October and the end of next June.
It will be part of the £150 million fiscal stimulus package announced earlier this month to boost the economy.
Ministers say it will increase the take-home pay for 55 thousand workers and self-employed islanders.
If approved, there'll be a 4% employee contribution rate instead of six on earnings up to £4,500 a month.
For the self-employed, the rate will be 10.5% instead of 12.5% on earnings up to the same amount.
It will reduce income into the Social Security fund by around £26 million this year and next.
Record smashed at 2026 Jersey Marathon
Search for speeding cars out west
More than 2,250 runners taking on Jersey Marathon
Man charged with murder of Hannah Benfield in Alderney
Huge corporate tax windfall will help pay for Overdale Hospital
Hate crime legislation: Liberate CEO 'very encouraged' by Minister's plan
An appeal for apples!
Chris Kamara launches men's mental health initiative in Guernsey
Comments
Add a comment