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Channel Islands Agree Budget-Saving Synergies

by Jason Gorringe,, London

04 February 2013

The Treasury Departments of Jersey and Guernsey have confirmed that substantial progress has been made in recent days on negotiating joint-working initiatives to achieve cost savings and make their operations more efficient.

At the latest meeting of high-level representatives from both islands, agreement emerged on a number of specific next steps, including:

  • The adoption of a collaborative approach to Guernsey's Financial Transformation Plan and Jersey's Comprehensive Spending Review; and,
  • A commitment to engage in further pan-island procurement to secure better economies of scales for the islands, facilitated by the establishment of the new Channel Island Procurement Portal, which is being used to manage the tendering process for suppliers in both islands.

In addition, it was agreed that by the end of the year the two islands would agree a set of priorities for collaboration on infrastructure development; combine internal audit resources and information where appropriate; and share ideas and resources on public sector pension reform.

Jersey's Treasury Minister, Philip Ozouf commented: "I am determined to forge ever closer links with our colleagues in Guernsey to produce results in terms of saving money and delivering better services. In his recent speech to Jersey's Chamber of Commerce, our Chief Minister clearly emphasized how important working more closely with Guernsey will be to our future success. This closer alignment between the two Treasuries is a positive example of how this strategy is working in practice. We already have a number of successful joint initiatives underway and many more planned for the future."

"From an infrastructure perspective, many potential areas of collaboration were discussed, from energy policy, sustainability, and security to waste management, and there is a clear intent from both islands that these areas will be developed jointly wherever possible."

His Guernsey counterpart, Gavin St Pier added: "Last year, our Treasury Departments established an excellent working relationship and, as our most recent meeting demonstrates, this is set to continue. We have similar challenges and opportunities, and we remain more committed than ever to ensure that our teams are working together to share ideas and resources. I am certain that 2013 is going to result in a closer alignment between our departments than ever before."

TAGS: tax | fiscal policy | public sector | international financial centres (IFC) | budget | Guernsey | Jersey | offshore

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