Guernsey asked to approve £500million in borrowing
The states of Guernsey will tomorrow be asked to approve the borrowing of £500 million as part of the island's response to the coronavirus pandemic.
The money will help boost cash flow to businesses and give the island 'firepower' as it comes out of lockdown.
Alongside this debate Guernsey's government will also discuss plans put forward by Deputy Peter Roffey, to allow islanders to invest into a scheme which will work in a similar way to the UK's premium bonds.
The debt will eventually have to be paid back, which has led to some concerns from islanders about how that will happen.
Today, Guernsey's Chief Minister refused to rule out introducing a general VAT or a goods and services tax.
The States of Guernsey will continue their response to the pandemic tomorrow (29 April).