States approves idea of loan to buy Sark electricity firm
Deputy Soulsby added: "It will be for Sark to agree the terms as set out."Chief Pleas previously wrote to Guernsey's Policy and Resources Committee requesting the loan to purchase SEL.The States proposed conditions for the loan which included import duties on alcohol, fuel and tobacco being used as a security guarantee in the event of non-repayment.Soulsby said: "We needed to ensure we did not put Guernsey taxpayers' money at risk and so the loan facility comes with conditions."These include Sark's participation in the Bailiwick Commission to look at our constitutional relationship and its commitment to a full review of its taxation system to ensure financial stability."An interim report is due to return to the States by the end of the year.
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- BBC News
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ITV News
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BBC News
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- BBC News
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