Guernsey Press

'The economy must be the top election issue'

THE political and civil service classes are sleepwalking into what is a potential tipping point for the wellbeing and prosperity of the island, a lunch at St James was told yesterday.

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Former Guernsey Press editor Richard Digard told guests at St James that while he did not want to sound like a Jonah, people needed to be realistic if the island was to tackle the problem.

Unfortunately, the key indicators of economic health were not good, he said.

Growth in GDP fell from 4.5% in 2011 to 0.9% in 2014; employment and self-employment had been in decline since 2008; and unemployment had been increasing since then.

Financial services were consolidating and their contribution to GDP had declined by nearly 1% in a single year.

'Working for the States – public administration – is now firmly established as the second biggest employer after finance,' said Mr Digard.

Retail was now third in line and that too was shrinking.

There were 20% fewer people under 20 here now than in 1981 and this explained the low youth unemployment – it was being exported as people left their island home.

For the first time, Guernsey was starting de-populate, like Sark and Alderney.

'This information is all readily available, but when was the last time you heard your deputy discussing it or proposing solutions?' he said.

If the economy was not the doorstep issue of the 2016 election campaign, then it should be, he added.

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