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Home | March 2014 Please tell us what you think of this article. Tell a friend Print Friendly

St Helena : St Helena: BUDGET SPEECH 2014/15
Submitted by Saint Helena Herald (Nathan Prince) 31.03.2014 (Article Archived on 05.05.2014)

Financial Secretary Colin Owen this afternoon delivered the Budget Speech for St Helena, 2014/15 (photo attached). The theme of this year’s Budget was the Health of the Nation and Making a Difference.

BUDGET SPEECH 2014/15

Financial Secretary Colin Owen this afternoon delivered the Budget Speech for St Helena, 2014/15 (photo attached). The theme of this year’s Budget was the Health of the Nation and Making a Difference.

The budget covered a wide range of health and environmental issues and saw the introduction of Excise and Liquor Duty and a number of changes to the current tax regime.

Highlights from the speech included:

Total expenditure for 2014/15 of just over £29 million
Increased funding for priority areas, including an additional £692k for the Health Service
£8.5m to be spent on Capital Infrastructure Projects in 2014/15
Planned introduction of Child Benefit allowance from 1 April 2015
Continued equalisation of Fuel Tariffs, with duty on diesel to increase by 5p
Tobacco and Spirits Duties increased by 5%
Introduction of Liquor Duty at £3.50 per litre
New £1 per litre Duty for alcohol 3% or below
Changes to Customs Duty on Vehicles, based on CO2 Emissions
Introduction of Excise Duty on Styrofoam boxes for takeaways
Introduction of Excise Duty on plastic shopping bags
75p per litre Excise Duty on High Sugar Carbonated Drinks

Colin Owen commented:

‘The introduction of a new tax on high sugar drinks and higher than inflation increases on tobacco form part of a raft of measures which demonstrate that SHG takes the health of St Helena seriously.’

The full Budget Speech is available on the SHG website at: http://www.sainthelena.gov.sh/finace/

SHG
21 March 2014

 

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