UK notes run short as local cash is promoted

Saturday 11th March 2006, 12:00AM GMT.

A DRIVE to promote Jersey money may be leading to a shortage of UK currency in the Island.

The States used to help banks finance the cost of sending UK notes back to the UK, but stopped doing so four years ago.

In a bid to boost the Island’s economy, the Treasury stopped helping to fund the ‘repatriation of UK notes’ in 2002, said States Treasurer Ian Black.

Jersey notes earned the Island £2.8 million last year, whereas using UK notes benefits Chancellor Gordon Brown.

But now customers are complaining that banks order English notes only to fill their cash machines.

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