Sark’s proposed 2025 budget outlined

Sark’s proposed 2025 revenue budget would increase by more than £57,000, according to a report submitted to governing body Chief Pleas.

An increase of 2.67% over the 2024 budget adds £57,520 for a total of £2,214,579, which “less than expected,” the report said., external

The report reflected “the result that the island’s two largest revenue streams after direct taxation were below budget in 2024.”

It said the real estate market is “stagnating with minimal transactions in 2024” and property transfer taxes are expected to generate the lowest amount in 10 years.