Jersey show importance of economy
A NEWS story from Jersey that its business leaders were joining forces amid ‘widespread pessimism’ about the island’s economic outlook, immediately caused ripples over here.
The first reaction to the fact that more than half of the island’s businesses thought that its economic conditions and government strategies were ‘major barriers to growth’ was ‘bet our numbers would be higher’.
You’ll remember not so many weeks ago when the Institute of Directors highlighted the huge gap in economic performance between the islands. And now Jersey businesses think that they’ve got it bad?
The authorities in Jersey appear to have accepted the findings and at the same time, rather dismissed them, believing that Bergerac’s reboot might get them back on the road to recovery.
The business organisations in Guernsey have already pulled together before the election to ensure that their messages are heard. It’s clear they want to get ‘up and at ‘em’ and compete.
That doesn’t mean that everything is rosy, far from it, and there are demands for things to improve, things within the control of the States, the financial services regulator, and, in a joined-up fashion, from everyone.
Walking around with long faces won’t help, but the mood is serious and so are the points being raised. There’s a lot at stake in 2025, and the economy needs to be front and centre of that.