A half billion pound bulldozer

Public confidence is currently riding high in the upper echelons of the decision-making apparatus, buoyed by the squashed curve of Covid-19 cases and a hospital that is under control.

But those involved know well that the really tough decisions now lie ahead – and some of them will have an impact on generations to come.

On Monday Deputy Gavin St Pier announced the intention to borrow £500m. and take another £100m. from the rainy day fund – it makes the measures taken on the back of zero-10 look like tame.

There was scant detail on what the money would be used for, why that figure had been chosen, or indeed how it would all be paid back.

That was expected to change yesterday with publication of the States report for debate today, but as the clock ticked on nothing was forthcoming.

What we do know is that this type of decision making deserves proper consideration, scrutiny and testing – right now it feels like something being bulldozed through when attention is elsewhere, debating planning or sea walls.

Deputies will all have responsibility for what unfolds in the coming years, and when we look back, this will be where our eyes will land.

Many will want time to pause and reflect, because these economic measures are all one-way traffic and the advice largely internal. These sums are big and bold – they may well need to be, at the moment only a privileged few know the thinking behind it.

It takes a huge amount of trust when half a billion pounds is being spoken about in such short order, an unthinkable process just a few months ago when faith in the States was so low.

This was not an Assembly renowned for prioritising spending, nor a public service best known for efficiency and modernisation.

Guernsey once flew the flag of the lack of borrowing and low taxes with pride, a sign of how well it was managing its finances.

Those days are now over.

There has not been a bigger economic challenge in modern times.