JERSEY is not producing the confident and articulate school leavers that the finance industry needs, the chief executive of Jersey Finance said yesterday.

Giving evidence to the Migration Policy scrutiny panel, Phil Austin warned that 18-year-olds often lacked the interpersonal skills to conduct business with clients around the world and called for a review of the Island’s education system.

He suggested the resulting skills shortage meant the finance industry would need to import 200 new employees a year as it spearheaded the push for a two per cent growth in the economy.

And asked whether he thought it was possible for the industry to increase profitability to help fill the tax black hole a zero-ten structure would create, he said: ‘It can be done, but it’s a very tall order.

It will depend on global conditions.’ Mr Austin, the former number two at HSBC’s Jersey operation, added: ’2004 was a very good year and 2005 has got off to a great start.

There is more confidence around and people are starting to invest again in our business.’