Speaking at a recent Institute of Financial Services lunch, Jersey Finance chief executive, Phil Austin warned the jurisdiction's financial services sector that it is in danger of losing its competitive edge, and stressed the need for self-belief.
Reporting last week, the Jersey Evening Post quoted Mr Austin as observing that Jersey is viewed as an expensive place in which to do business: 'People are saying that Jersey is not measuring up in relation to price - that is a dangerous combination,' he warned, adding that Jersey's stringent regulatory regime is also viewed in some quarters as 'over the top'.
'We are always the first to do things,' he told those attending the IFS lunch.
According to JEP, Mr Austin also warned against negativity, arguing that: 'You open the newspaper or listen to the radio and people are complaining. So many people in Jersey are in a negative mood. If we are not careful we will be in danger of losing our self-belief.'
He concluded: 'We have to drive forward ourselves. A lot of good work has been done in the last twelve months, but there is more to achieve...We have to fight and strive to stay pre-eminent.'
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