EU confirms Jersey’s status as a cooperative jurisdiction

On December 6, 2017, in Financial Services, General, Society, The Economy, by Lyndon-Farnham

I am very pleased that the EU has cleared Jersey from inclusion in its register of blacklisted jurisdictions. (Source gov.je) The EU Code of Conduct Group on Business Taxation (the Code Group) has determined that Jersey is a cooperative tax jurisdiction, and will work with the Island throughout 2018 to ensure that this position is […]

Economic Development Minister calls for end to collective responsibility

On December 2, 2017, in General, States Reform, The Economy, Voting, by Lyndon-Farnham

COLLECTIVE responsibility, the doctrine enshrined in the ministerial code which requires ministers to toe the official government line – is curtailing proper democratic debate and should be scrapped.   Senator Lyndon Farnham spoke out after abstaining from a crucial States vote this week on a proposal in the 2018 Budget to charge big retailers 20 per […]

Global Forum on Transparency & Exchange of Information for Tax Purposes recognises Jersey’s commitment and cooperation

On November 18, 2017, in Financial Services, General, Society, The Economy, by Lyndon-Farnham

The recent Global Forum’s report (pub. 17th November 2017) recognises that Jersey is fully committed to the highest standards of tax transparency and cooperation. Summary of the Report: The second round peer review reveals the important progress made by Jersey in the implementation of the international standard, leading to the upgrade of its overall rating from […]

Record numbers of people in work suggests stronger economy in 2017

On November 2, 2017, in Agriculture, General, Population, Society, The Economy, Tourism, by Lyndon-Farnham

In June 2017 total employment in Jersey was 61,660 the highest recorded to date.   The latest Jersey Labour Market data suggests that Jersey’s economy is stronger in the first half of 2017 than expected. Total employment increased at a rate of 2.2% (June 2017 on June 2016) compared with the Fiscal Policy Panel (FPP) assumption […]

Holidaymakers to Jersey up 4% in August 2017

On October 22, 2017, in The Economy, Tourism, by Lyndon-Farnham

Visit Jersey have released their Exit Survey Analysis for the period January to August 2017.  Provisional estimates suggest that the number of visits to Jersey during the first eight months of 2017 was 521,200 with visitor bed-nights reaching 2.1 million.  During the period January to August 2017, just more than two-thirds of visits (68%) were made by […]

Jersey Business Tendency survey – Business confidence remains positive

On October 16, 2017, in General, Society, The Economy, Tourism, by Lyndon-Farnham

The quarterly Jersey Business Tendency Survey (BTS) provides timely, qualitative information about the Island’s economy. Chief executives and managing directors are asked for their opinions on the current situation of their business compared to three months earlier and their expectations for the next three months. In September 2017: the headline all-sector business activity indicator was […]

Short term economic forecasts improve but prudence still required

On October 14, 2017, in General, Population, Society, The Economy, by Lyndon-Farnham

Jersey’s Fiscal Policy Panel has produced its tenth annual report.   The Fiscal Policy Panel (FPP) was established to provide Jersey’s Treasury and Resources Minister and States members with independent economic advice on matters relating to tax and spending policy, and the use of the Stabilisation Fund. The current members of the Panel are Dame Kate […]

Jobless figures fall by 450 as employment continues to rise

On October 12, 2017, in Society, The Economy, by Lyndon-Farnham

On a seasonally adjusted  basis, the total number of people registered as actively seeking work (ASW) was: 10 lower than the end of the previous quarter 450 lower than the end of the corresponding quarter in 2016 (Q3 2016) the non-seasonally adjusted ASW total was 980; this total is 20 lower than the end of the […]

Number of holidaymakers to Jersey hit five-year high in 2016

On March 3, 2017, in The Economy, Tourism, by Lyndon-Farnham

More people are choosing Jersey as a holiday destination Jersey welcomed almost 356,000 people for a holiday to our amazing Island during 2016. This was the third year of growth and the best for 5 years and beat our 2016 target of 352,000 staying holiday visitors, a growth of 2.6%. Total visitors (which includes day […]

Jersey RPI increase slightly lower than forecast

On January 21, 2017, in General, Society, The Economy, by Lyndon-Farnham

During the twelve months to December 2016 the All Items Retail Prices Index (RPI) for Jersey increased by 1.9% to stand at 163.0 and is slightly lower than forecast. The Household services, Housing and Motoring groups were the largest contributors to the overall annual increase in the RPI . The increase in the RPI over […]

A Jersey World Expo’?

On October 29, 2016, in General, Society, Sport, The Economy, The Environment, Tourism, by Lyndon-Farnham

A world’s fair, world exposition, or universal exposition (sometimes expo or Expo for short) is a large public exhibition. These exhibitions vary in character and are held in varying parts of the world. They usually last from three weeks to six months. Since the 1928 Convention Relating to International Exhibitions came into force, the Bureau International […]

Social Security support for islanders reaches £356 mil in 2015

On October 23, 2016, in General, Population, Society, The Economy, by Lyndon-Farnham

Society simply would not operate without the essential support provided by the Social Security department. Their overarching aims are to help people achieve and maintain financial independence and to provide benefits to those islanders who are unable to support themselves. In 2015 £355.8 million was paid out to islanders in delivering that function. At the end of […]

Jersey’s inflation remains low but expected to rise

On October 21, 2016, in The Economy, by Lyndon-Farnham

The increase in Jersey’s inflation from 1.5% to 2.0% was expected, and is in line with Fiscal Policy Panel forecast (average rate of 2.2% for 2016). The increase is primarily due to faster annual increases in motoring costs (in particular petrol and diesel) and slower annual falls in fuel and light costs (particularly home heating […]

Locate Jersey’s sponsorship of Jersey Rugby. Some important facts and figures..

On October 12, 2016, in General, Society, Sport, The Economy, by Lyndon-Farnham

Tickets for international matches are part of the sponsorship package with Jersey Rugby. They are used carefully and strategically to help secure inward investment from individuals and businesses. Inward investment is a key pillar of the States strategic plan and the economic growth and diversification strategy. The other Crown Dependencies and England, Scotland, Wales, Ireland […]

Strong year for Jersey’s dairy sector

On October 8, 2016, in The Economy, The Environment, by Lyndon-Farnham

Milk yield up There was good news from the dairy sector with the average milk yield per cow per year continuing to rise. It now averages 4,947 litres per cow which is an increase of 4.1% year on year. This rise can be attributed to the use of world class genetics through the import of […]

Employment in Jersey at highest ever level

On October 7, 2016, in General, Population, Society, The Economy, by Lyndon-Farnham

Labour Market Statistics In June 2016: total employment was 60,320 (annual increase of 1,260) private sector employment was 52,480 (annual increase of 1,600) public sector employment was 7,840 (annual decrease of 350) annual increase in private sector employment was driven by rises in full-time (+740) and zero-hours (+690) employees annual decreases in public sector was driven by […]

What does Tourism do for Jersey?

On October 5, 2016, in The Economy, Tourism, by Lyndon-Farnham

In 2015, there were 718,000 visitors to Jersey. 347,000 stayed overnight, 107,000 were visiting family and friends, 118,000 were business visitors, 108,000 were leisure day trippers, plus there were almost 38,000 additional visits. 70% of visitors arrive from the UK. On average staying visitors spend £491 and daytrip visitors spend £50. In total, visitors contributed […]

Measuring Jersey’s Economy

On October 4, 2016, in General, The Economy, by Lyndon-Farnham

On an annual basis Jersey’s economy, as measured by total GVA, grew by 2% in real terms in 2015  total GVA in 2015 was £4.11 billion (current year values)  2015 represents the second consecutive year that the Island’s economy has grown in real terms  the majority of the non-finance sectors of the economy recorded real-term […]

Jersey Construction Council – JeCC Awards 2016

On April 20, 2016, in Education, General, Society, The Economy, The Environment, by Lyndon-Farnham

I was very pleased to help launch the JeCC awards this morning in Jersey.  The awards ceremony will take place in October 2016. Full details can be obtained from JeCC Awards 2016 – Nominations and Toolkit I attach a copy of my speech: Launch of the 2016 Jersey Construction Awards Good morning – Thank you for […]

Economic Indicators for Jersey

On March 2, 2016, in General, Population, The Economy, by Lyndon-Farnham

The latest set of econmic indicators for Jersey have been released. The results show that, not withstanding the worlds economic challenges, Jersey’s economy continues to perform steadily. Real-Term GDP per head grew by 3% Inflation was at 0.9% in December 2015 Real-Term Average Earnings grew by 0.8% in 2015 Retail Sales grew by 2% in […]

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