Proposal to hike Sark taxes to fund major projects

Sark could raise taxes by up to 7.5% to finance major projects, according to proposals from the Policy and Finance Committee. The increases may include changes to personal capital tax and property tax rates, intended to fund “investment in major projects” such as the next phase of stability works at La Coupée, which connects Little Sark and Big Sark, along with harbor infrastructure improvements and waste management upgrades. The committee forecasts total income of £2.69m and expenditure of £2.68m for the budget, leaving a small surplus of £3,476. It also projects 2028 and 2029 surpluses if annual tax rises are kept more modest at about 3%. The plans will be considered by the Chief Pleas on 18 November.