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Channel Islands Plan Fiscal Policy Collaboration

by Jason Gorringe,, London

28 December 2012

Representatives from the Channel Islands' Treasury departments have held meetings to discuss potential initiatives to scale back their costs by collaborating more deeply, to enable the islands to benefit from greater economies of scale, and more efficiently manage their fiscal affairs.

Representatives from the two departments, and other senior government officials are to hold another meeting on January 14, 2013, to further develop proposals under discussion, including: pension reviews; shareholder resources; shared work; joint bargaining on key contracts; internal audit; and the potential for a joint Channel Islands' energy policy.

Jersey Treasury Minister, Philip Ozouf said: “There are a number of domestic and international challenges that both islands are facing and by developing strong Treasury relationships we can not only learn from each other but also improve efficiency and continue to make savings by working together.”

His Guernsey counterpart, Gavin St Pier added: "There is great deal we can achieve working together to make savings and deliver efficiencies. The two departments have established an excellent working relationship over the past few months, both politically and at officer level. We are looking at how we can improve our current and ongoing activity through joint working, and moreover how we can work together to meet the common challenges we will face in the future. Philip and I are committed to finding ways to work together, and sharing ideas, best practice and resource, and our teams are already working on delivering this."

TAGS: tax | economics | fiscal policy | energy | law | financial services | international financial centres (IFC) | audit | Guernsey | Jersey | services

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