THE idea that Jersey should have a high-calibre business school which would be able to tap into the vast store of expertise and experience residing in the Island’s finance industry is not new, but it is increasingly appealing.

The idea resurfaced again last night at the Institute of Directors debate, where 85 per cent of the audience said that it should be seriously considered. In addition, Chief Minister Frank Walker was highly supportive – to the extent that he was able to assure his influential audience that government is already in ‘active discussion’ with the London Business School.

It will, of course, be pointed out that there is already a thriving business studies school at Highlands College, an institution that goes from strength to strength in terms of what it is able to offer Islanders young and old. It is also the case that Highlands is soon to offer a finance degree in conjunction with the University of Plymouth and with the full co-operation of industry specialists who have helped to design the course.

However, it seems that what was envisaged last night would be very different from anything that exists or is planned for the immediate future. Indeed, a business school on a suitable scale could become a profit centre rather than a service which puts additional strain on public resources – though this would depend on attracting students from other parts of the world who would come here and pay to enhance their skills and knowledge.

As Senator Walker pointed out, any plan would be likely to stop well short of a fully fledged, full-scale university because large numbers of staff and students would overwhelm the Island, but on a more modest scale there are real possibilities.

Also, as one speaker suggested, there could be more to any such new school than finance-related studies. The environment and leisure are two obvious candidates for inclusion in the curriculum.
Meanwhile, focusing again on finance, what could be more appropriate or prestigious for a jurisdiction that prides itself on the excellence of its financial services sector than a centre of excellence devoted to raising standards among students drawn from around the globe?