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Jersey Publishes Economic Development Business Plan 2007

by Jason Gorringe, Tax-News.com, London

25 January 2007

The Jersey authorities have this month unveiled their Economic Development Business Plan 2007.

The 2007 Business Plan includes a greatly increased emphasis on support for businesses both existing and new across all sectors, reflected by a 74% increase in funding for business support activity.

This activity is driven by the new Enterprise and Business Development Strategy.

Explaining the thinking behind the 2007 plan, Minister for Economic Development, Senator Philip Ozouf observed that:

"2006 has seen the introduction of our new system of government and for Economic Development this has meant the addition of Jersey Harbours and Jersey Airport to our portfolio. 2007 will see the addition of the Fisheries sector and this will complete the centralisation of all the key economic sectors within the Economic Development Department."

"Over the last few years, the States has embarked on a radical reorganisation of both the structure of government and the fiscal and economic environment. In 2005 we spoke of the green shoots of economic recovery. We are now seeing the results in increased economic activity and a return of real confidence. Most of if not all our key economic barometers show an optimistic outlook for the economy in 2007 and beyond."

He went on to add that:

"Whilst we are optimistic, there is no room for complacency. The Business Plan sets out a huge variety of initiatives and policy reviews which are designed to sustain the momentum of economic growth in 2007."

"The outward face of Economic Development will change with the centralisation of nearly all the departments into two buildings at Jubilee Wharf and Liberty Wharf. Economic Development aims to become even more customer focused with everything that we do designed to assist and grow entrepreneurial spirit in Jersey."

"This Business Plan sets out policy initiatives in tourism, financial services, retail, agriculture as well as e-commerce."

"2007 presents a window of opportunity for business growth in the economy. We are going to do everything we can to assist that in all the work that we do."

Senator Ozouf concluded:

"Economic Development also has important regulatory responsibilities in Trading Standards and the Regulations of Undertakings areas, in addition to the responsibilities we have for the Jersey Financial Services Commission and the Jersey Competition Regulatory Authority. We recognise the importance of a proportionate but effective regulatory environment."

The full text of the Economic Development Business Plan 2007 can be found in the Tax News Resources section.

 

 






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