A chance to take a deeper look
THE island’s financial services sector will be out in force tomorrow morning in what might be expected to look like a celebration of success of the industry over the past 12 months.
Buoyed by the revelation that the Economic Development president thinks the States are getting great value for money for the extra £1m. it gave promotional body Guernsey Finance as one of the few post-Covid reboots that actually went ahead, the agency will use its annual update to reveal the details of business attracted to the island with the extra money and the future pipeline.
Its global representatives will also be present, talking about who they’re talking to, what’s being said, and the leads that are being generated in South Africa, the Middle East, and the US.
It’s unlikely, however, that industry representatives involved will ask any questions, or that our GDP figures, and the comparisons with Jersey outlined by the Institute of Directors last week, painting a picture of an economy ‘stagnating’, will be raised.
Which is a shame. Because it’s this that needs a good airing in front of the right audience, which tomorrow will include senior politicians.
Why are we in this position? What are we lacking? What are our strengths and, particularly pertinently, our weaknesses?
And, most crucially, what are we going to do about it?