Island needs to adopt growth mindset, says Giba chairman
GUERNSEY business – and government – needs to adopt a growth mindset to help to make the island flourish again, according to the new chairman of the Guernsey International Business Association.
Banker David Oxburgh took on the role heading the representative body of all sectors of the finance industry from Patrick Firth in the spring, after two years as his deputy.
He said that in an economy and finance sector which had been largely static in recent years, there were some ‘green shoots’ in various sectors.
‘It’s not all bad news. And when people talk about a skills shortage, particularly at the moment in the fiduciary sector, that in my mind is a problem of success and a sign of things picking up a bit.’
Brexit could also offer the island a number of potential opportunities, Mr Oxburgh said, but he was concerned about the States’ approach to pursuing growth.
‘At the moment it seems to be all about spending and taxing more. If you tax people more, they will just go elsewhere, and business can do that easily today. Maybe we do need more money for spending on public services, but you don’t get that by killing off the sectors that drive the economy. We need to try to encourage more entrepreneurs and businesses here and to make Guernsey more rather than less attractive.’
Full story in today's Guernsey Press
