Financial Strategy of the Council of Ministers
Launch date: 27/03/2008
Review status: Discontinued
What is the review about?
The corporate financial strategy of the Council of Ministers.
Terms of reference
- To review and comment on the corporate financial strategy of the Council of Ministers. In doing so the Panel will monitor:
To hold public hearings with (a) the Chief Minister and (b) the Treasury and Resources Minister on the overall tax and spending plans of the Council of Ministers following the publication of the draft 2009 States Business Plan and the draft 2009 Budget statement respectively.
To consult the public and relevant business/interest groups on the draft Business Plan proposals and draft Budget proposals.
To present reports to the States in advance of debates on (a) the 2009 States Business Plan and (b) the 2009 Budget.
- the business planning process at the principal stages in the development of (a) the States Annual Business Plan 2009 and (b) the Budget 2009
- the Council’s long term philosophy on balancing tax and spending, avoidance of a structural deficit and control of inflation,
- the Council’s policies on the use of the Stabilisation Fund and Strategic Reserve
- compliance with the financial targets contained in the States Strategic Plan 2006 - 2011 and the 2008 Annual Business Plan
- the impact of any identified new spending pressures on the strategic financial framework
- the regular financial forecasts of overall States revenues and expenditure
- the policies on the utilisation of planned corporate efficiency savings
- the annual targets in the States Property Plan
- draft budget proposals for 2009