I have been commenting on the Goods and Services Tax (GST - or VAT anywhere else) in Jersey just about since it was first promoted. I even advised them on it - saying it was a bad idea.
And now I note it is forecast to rise to 12% - by Jersey's own civil service. There has been a sweep stake on this within the Tax Justice Network for some time - simply because it was inevitable that it would happen, as I also forecast.
It's another sign of reverse socialism and Jersey had been warned. Ordinary people in Jersey are funding a tax haven. And no one will bail Jersey out when eventually, as eventually it will, Jersey goes bankrupt, as I have again long predicted. Indeed, the forecast deficit is I now note way in excess of anything I forecast and I was told I was speaking nonsense. What fools they were not to listen.
It's a sad tale to date. And I fear it will have a sad ending because the finance industry does not care one iota about the people of Jersey. They'll use the place until it collapses and then walk away laughing.
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