Economic recovery ‘not yet’
Wednesday 22nd April 2009, 3:01PM BST.
JERSEY’S economy is still likely to shrink next year – despite UK commentators forecasting that the recession could end next spring, Treasury Minister Philip Ozouf has said.
Earlier this week the Confederation of British Industry issued the first major positive forecast for the economy in months when it claimed that the UK could see 0.2% growth in the second quarter of 2010.
Other commentators in the United States and China have also predicted that their economies could see a small growth next year.
But Senator Ozouf said that although Jersey’s economy was ‘closely linked’ to that of the UK, the central forecasts for 2% shrinkage for the Island would not change.
Read the full story in the Jersey Evening Post.
Click here for subscription details.
Individual editions are also available online.
The Queen's Diamond Jubilee
JEP Jubilee Editions
Saturday 2 June: Guide to Celebrations
Wednesday 6 June: Souvenir of Events
View The Queen in Jersey supplement
Travel
To, from and around the Island
Airport Arrivals/Departures
Harbours Arrivals/Departures
Bus Information/Timetables
This is Jersey
Jersey Evening Post
Useful links
He’s really clever this bloke ain’t he !!!
Report abuse
its going to be interesting who gets the 44 million ? bet its the likes of dandara ,and co , then they can bring in more cheap labour from somewhere !or the finance industry , and the rest of us small firms can suck eggs !!
Report abuse
This is simply unbelievable. Its possible we will see a complete collapse of the finance industry and likely we will see some more decline. How can one predict our economic growth/decline. I would have thought a figure of -20% +/- 25% would be a more accurate prediction.
It’s also possible of course that the worldwide economy will never recover as populations grow, and food and oil become more scarce, we are fast approaching a tipping point.
Report abuse
This recession in my humble opinion is a 10 year thing so perhaps its a good idea to splash some cash instead of hanging on to it with a long face!
Report abuse
Of greater concern is what is the tax rate going to go up to. Currently it stands at 23% made uo of the 20% means 20% and 3% GST which is on pretty much everything. Someone somewhere has already run the numbers on this and they know that is is well over 30% (plus the GST contribution), so when will that one come out?
Report abuse