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Guernsey Consults On Medium-Term Business Strategy

by Jason Gorringe, Tax-News.com, London

15 October 2012


The Guernsey government has launched a new consultation to receive feedback from Guernsey businesses on the development of an Economic Development Strategy for the island.

Kevin Stewart, Deputy Minister at the Commerce and Employment Department, explained that the consultation aims to ensure that Guernsey "maximizes the benefits of its existing industries and businesses, and identifies new opportunities and economic work streams. The primary objective is to ensure that Guernsey remains competitive and successful," he said.

Stakeholder groups, members of the business community, States' members and the general public have been asked to contribute by completing a government-issued survey. In addition, representatives from local business groups have been invited to take part in a series of workshops to tackle key issues and themes.

Stewart continued: "As we move forward, we must continue to grow our business relationships with industry. Guernsey needs to ensure clarity on where we are heading and how we intend to achieve this within the context of the resources we have available to us."

The creation of an Economic Development Strategy was suggested in a recent report by Oxford Economics. In due course, the government is also to launch a separate Finance Development Strategy focusing on the expansion of the financial services industry. These documents will be used to form the basis of the States Strategic Plan in 2013.

TAGS: tax | investment | fiscal policy | international financial centres (IFC) | Guernsey | offshore | services

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