£1.4m aid for local business?

Thursday 13th November 2008, 3:00PM GMT.

AN extra £1.4 million could be made available next year to help Jersey businesses through the credit crunch.

Economic Development Minister Philip Ozouf (pictured) and his senior civil servants are currently in talks with their counterparts at the Treasury in the hope of securing the extra cash in next month’s Budget.

If the money is forthcoming, it will be split between Jersey Finance and Jersey Enterprise. For the past few years, Jersey Finance, which promotes the Island as a finance centre, has been organising trade missions to new markets in the east, including India and China.

Currently, it receives a £1 million annual grant from the States. Jersey Enterprise supports Island-based business with advice and financial help. It has an existing annual budget of £2.4 million from Economic Development.

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