PLANS to promote new growth in the Jersey economy were overwhelmingly endorsed by the States yesterday.

The emphatic victory for Deputy Gerald Voisin’s Economic Development Committee on the second day of the debate puts in place one of the main planks of the comprehensive programme of social, political and economic reform dubbed the Big Debate which is currently making its way through the States.

The next major stage in the process will be the debate on tax reform, now due to take place on 10 May.

The date – which means that politicians will be asked to impose higher taxes on Islanders the day after they celebrate the 60th anniversary of the Liberation – was fixed this week, despite opposition from some Members.

And new amendments to Finance and Economics plans for higher income tax bills and a new sales tax were lodged by opponents today.

The Economic Growth Plan approved yesterday will see £2.7m invested in a range of projects, including training initiatives, a small business loan guarantee scheme, a new project for ‘business angels’and a pilot venture capital fund to encourage investment in new Jersey firms.

Its aim is to increase the overall economy by two per cent above inflation each year, generating an extra £20m in tax revenue to help fill the looming ‘black hole’ created by finance industry changes.

Six appel nominal votes were held to approve the plan, and they were all approved by margins of between 36 and 26 votes.

This morning, Economic Development president Deputy Gerald Voisin said that the plan would create a new partnership between businesses and government to provide a vibrant economy for Jersey.