Huge Increase in Social Insurance Contributions announced by Government ahead of Budget

Sir Joe Bossano’s first act as Minister for Social Security has been to pass regulations for a huge increase in social insurance contributions as from 1 July, says the GSD.

This can only reflect the dire state of our public finances and coming ahead of the Budget debate in July is not a good omen.
Roy Clinton the GSD Shadow Minster for Public Finance and Small Businesses said:
“This increase should have been properly announced in the Budget session by the Chief Minister and comes as a complete shock. I doubt whether there has been any prior consultation with the business sector as to the affordability of these increases as they are still trying to recover from the effects of Covid.

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28-06-21 PANORAMAdailyGIBRALTAR