Labour win sparks rise in relocation enquiries

Local business groups are eager to see how the new Labour government’s plans might impact the Bailiwick following the party’s landslide general election victory yesterday.

Pierre Blampied, managing director of local mortgage broker SPF, said the company had recently received a number of enquiries from people of high net worth looking to move to Guernsey.

‘For some people receiving enquiries there has been at least one a day,’ he said.

‘With the new Labour government, we could see more high-net-worth people relocating to the island and we need to make sure we have the properties for them.’

Locate Guernsey managing director Jo Stoddart also said they had seen an increase in people who had previously thought about relocating getting back in touch in recent weeks.

‘We will need to take the time to see what the government decides to do in terms of policy, but I would say watch this space,’ she said.

‘I would think that we will probably be a bit busy in the coming months.’

Guernsey International Business Association chairman Paul Sykes said GIBA acknowledged Labour’s manifesto commitment to kickstarting economic growth through initiatives supporting innovation, artificial intelligence and wealth creation.

‘We welcome the government’s dedication to sustainable development, emphasising inclusivity and partnerships with businesses and devolved governments,’ he said.

We look forward to partnering with them to enhance the business relationship between Guernsey and the UK.’

A spokesman for the Confederation of Guernsey Industry said the CGi was concerned about a pledge made by Labour before the election that laws would be passed to ban employers from recruiting workers overseas, warning that this could potentially impact the island’s ability to bring in staff.

‘Our own immigration policy is closely tied to that of the UK Home Office,’ he said.

He added that, while it was very early to understand what the ramifications of the result were for the Bailiwick, the CGi hoped that the States would engage with the new government soon and look to protect existing agreements, as well as consult on any new policies that may affect the island.

Guernsey Chamber of Commerce president Stephen Rouxel said the group was interested in understanding Labour’s plans in several areas, including economic policy, trade, tax and regulation, and sustainability and green energy innovation.

This included the new government’s approach to international trade agreements, including ‘crucial’ post-Brexit agreements, as well as the implications for local businesses should there be changes in taxation and business regulation.

‘We remain focused on ensuring that our business community continues to thrive in this evolving political landscape and will work closely with the States to ensure this remains a priority,’ he said.