Guernsey Directors' Institute Backs Telecoms Privatisation

Tax-news.com

18 January 2000

The Guernsey Institute of Directors has backed plans currently before the Advisory and Finance Committee to privatise Guernsey Telecoms.

Andrew Ozanne, chairman of the Institute, said last week that the issue is of vital importance to Guernsey's economy because it is dependent on income generated by the finance industry which must compete in global markets by providing fast, efficient and reliable knowledge-based services.

Mr Ozanne said "Recognising the opportunity that e-commerce can provide and responding accordingly will enable us to benefit from niche opportunities. Failing to establish a lead position would simply isolate the bailiwick from the other communities and economies that we rely on for trade which would, in turn, bring economic decline in all business sectors."

He also expressed concern that Guernsey Telecoms is currently not able to provide the complex range of facilities that will be required for e-commerce to develop, and that this can only be achieved by injecting additional technical expertise and manpower and by the removal of the constrains it currently operates under. He added that the Institute of Directors believed that through controlled licensing, backed by an independent regulator, Guernsey Telecoms would be able provide globally competitive services through economies of scale.

The Advisory and Finance Committee's proposal to privatise Guernsey Telecoms was presented at a public meeting last week which drew about 300 people, most of whom were supportive of to the idea.

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