PLANS to reshape Jersey’s economy to promote above-inflation growth in profits and generate an extra £20m in tax revenues are under discussion in a major States debate today.

It is hoped the Economic Development Committee’s plans will increase the economy by two per cent a year above inflation and help create new businesses and training in the workforce.

The debate began late yesterday afternoon after a reference back proposed by Deputy Geoff Southern was defeated by 37 votes to 11.

The plan, which is supported by Finance and Economics, was introduced by Economic Development president Deputy Gerald Voisin , who reminded Members that the States had asked his committee to aim for a target for economic growth of two per cent a year for the period 2005 to 2009 that was consistent with its strategic plan.

Before the reference back attempt was made, he told the States that the plan was seeking to ‘fight inflation, encourage new enterprises and new companies and explore and provide new opportunities for the rural economy and tourism’.