GSD says 'huge increase' in social insurance must reflect 'dire state' of public finances

The GSD says it is shocked by what it says is a "huge increase" in social insurance contributions announced by Sir Joe Bossano, effective from the 1st of July.

The official opposition says this can only reflect the dire state of our public finances and is not a good omen, coming ahead of the Budget debate next month.

The GSD Shadow Minster for Public Finance and Small Businesses Roy Clinton says it is a tax on jobs and a disincentive on the creation of further jobs.

He claims these increases will hit the lowest paid on minimum contributions the hardest.