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Jersey Chamber of Commerce

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Category: States of Jersey

Putting Money Back in Islanders’ Pockets: Mini-Budget Follow-up

Mar 03, 2023


• Package put almost £15 million back into Islanders’ pockets 

• A further £42 million will be given in additional help in 2023

• Community Costs Bonus increased and eligibility extended

• Income Tax thresholds and allowances increased by 12%

• Income Support components increased in January 2023 by a total of at least 10.4% above 2022 levels, with extra support for carers and private renters

The mini-budget put money back into Islanders’ pockets and focused support on those who are most vulnerable to the rising cost of living.

This package put almost £15 million back into Islanders’ pockets by the end of 2022 and will continue to help those that need it most with a further £42 million in 2023.

Last year, the mini-budget, provided Islanders with:

• A reduction of 2% in Social Security contributions from 1 October to 31 December 2022

• Class 1 employee contributions decreasing from 6% to 4%

• Self-employed contributions decreasing from 12.5% to 10.5%

• Doubling the Cost of Living Temporary Scheme (COLTS) from £20 to £40 per person per month, from August to December 2022

• Doubling the Community Cost Bonus (CCB) from £258.25 to £516.50 and extending the eligibility to include households who paid less than £2,735 tax in 2021

• Launching a pilot scheme for Free Period Products, available in selected venues for all Islanders who need them. The full scheme will be launched from September 2023

• The Jersey Old Age Pension was increased by 7.7% from October which helps ensure we protect our pensioners from inflationary pressures. That equates to an over £18-a-week increase for a single person and a rise of over £30 for a couple.

This year, the mini-budget has:

• Increased Income Tax thresholds and allowances by 12% 

• Increased the tax threshold for a single person from £16,550 to £18,550

• Increased Income Support components in January 2023 by a total of at least 10.4% above the 2022 levels with extra support for carers and private renters

• Helped families with registered status and less than five years residency through the Parental Support Payment

• Continued with increased cold weather payments of £70 a month until March 2023 regardless of the temperature.

• Continued to provide free period products through the pilot scheme

• Pensioners who pay income tax will also benefit from the increase to the personal tax allowances, while those who do not pay tax might be eligible for the increased Community Costs Bonus

The Community Costs Bonus is still available, and it only takes a few minutes to complete an application, by visiting gov.je/CCB. Islanders can also apply over the telephone or by booking an appointment to see a member of the team at Customer and Local Services on 444444.

The Parental Support Payment has been extended until the end of March. The Parental Support Payment is available for families with registered status and less than five years residency, who have children under the age of 18, whose gross household income last year was no more than £36,000 for a single person and £48,000 for a couple. Payments are £250 for one child and £500 for two or more children. 

More information is available at gov.je/parentalsupportpayment. Parents can also apply over the telephone or by booking an appointment to see a member of the team at Customer and Local Services on 444444


Government of Jersey News Release

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