Guernsey's top political committee says all approved infrastructure projects are "essential" and "must continue", despite the States of Guernsey being short of £62m to pay for them.
Funding currently available for those projects is £357m while the expected cost is £419m.
To address the shortfall, Policy and Resources (P&R) suggest restricting the funding for projects and/or extending the portfolio completion into 2027.
P&R said a longer delivery plan would reduce the amount of money the next assembly had for new plans to £150m - with a likely demand of more than £1bn.
Deputy Lyndon Trott, president of the committee, said an extension and capping of funding would allow the next States to use surpluses created during those years to fund the commitments.
But, he emphasised the extra money "will only be generated if the next States implements the tax changes this Assembly agreed during the budget debate."
P&R reviewed the States' capital project portfolio after plans to immediately increase income tax were defeated in favour of introducing a GST in 2027.
These include the Alderney Airport Runway Rehabilitation project, investment in post-16 education, and the Hospital Modernisation Project (OHM).
Trott said when it came to the portfolio "there are no nice to haves" and "all are essential".
P&R said for all of them to go ahead, it would need to cap the funding for Alderney's runway to the original £24m budgeted - despite estimated costs of £38m.
It has also proposed to split phase two of the OHM into two further phases in a bid to bring down immediate costs.
Heath & Social Care said Phase 2A - which included increased surgical capacity - would deliver approximately 80% of the overall benefits, at an estimated £130m.
It said Phase 2B would be delivered at a later date when funding was available and consisted mainly of refurbishment of areas such as the Emergency Department, Orthopaedics, and overnight accommodation.
Both plans will be debated in the next political term.
P&R plans to return to the Assembly with plans for a Fundamental Service Review, once it has engaged with all committees.
The review will look into the services delivered currently by the State and question whether they are all necessary and whether they could be commissioned outside of the government.