Economy
The Finance Industry - As the dominant major sector in Jersey’s economy, the Finance industry must be supported and protected against increasing competition from offshore rivals and international regulatory pressure. One of the key elements to future prosperity will be defending Jersey’s independent status and the Island’s ability to offer innovative financial services.
Changing the tax structure - This will involve changing Jersey's taxation structure and the Island must be prepared to rely less on the Finance industry's clients paying revenues directly into States Treasury coffers. The States must also acquire an ability to process complex fiscal legislation quickly and efficiently so that locally based financial services can have an advantage over rival jurisdictions when new financial instruments and vehicles are devised.
Broader based economy - However, the Island needs to progress to a broader based economy which means that Jersey's other important industry sectors must be nurtured as well. In addition, the Island should be constantly on the lookout for new economic opportunities.
Tight grip on spending - Alongside these requirements, the States will also have to keep a tight grip on spending, especially in the area of public services. Jersey has a disproportionately large civil service per head of population and it is essential that tight budget controls are applied and best value for money obtained.
|
