It has been revealed that in the past two years Guernsey States has spent more than �50m more than has been raised through taxes. The figures have highlighted the need for departments to curb spending and the possibility of future tax rises.
In 2003 the States spent around �17m more than it raised, last year that was up to �35m.
That has reduced the capital reserves to just over �50m, which is nearly half that of 2002.
The figures have been published in the interim financial report, which shows how States' finances have deteriorated since 2002.
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