The States is considering plans to plans to abolish corporation tax to keep companies in the island.

As well as this, new taxes are being considered to cover up to �45m in lost corporation tax income.

But Deputy Mike Torode says the Treasury has not got it right in the Green Paper and more investigation about sales tax needs to be done.

He said: "This 40-page document has just half a page about the sales tax and it says 'we are not prepared to introduce it'.

"There is no rationale, no argument, no figures and the Treasury has let everyone down by not producing a properly-backed argument.

"All they are doing is promoting like hell for leather for increased social security payments."