Voluntary work outweighs grant

Thursday 12th November 2009, 3:00PM GMT.

Jersey Finance chief executive Geoff Cook

VOLUNTARY work undertaken by Jersey Finance Ltd practitioner working groups has been calculated to be worth £2.5 million to the Island.

The figure was cited by Jersey Finance chief executive Geoff Cook when, earlier this week, he addressed the Island branch of the Institute of Directors.

Mr Cook explained that industry representatives had made contributions to work on projects such as Jersey’s foundations law and the depositor compensation scheme which, in monetary terms, exceeded the value of the government grant to Jersey Finance.

He also outlined the extent of his organisation’s efforts in other areas, saying that, by the end of the year, it will have run 30 events, conferences and marketing visits which have involved nine countries on three continents.This amounts, in Mr Cook’s words, to a significant conference, seminar or other event every ten days.

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1
Sarah Hughes

November 12, 2009 at 4:35 pm

Jersey was pretty much shamed and dragged into setting up its own depositor compensation scheme. Puts the above comments into perspective.

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2
Pip Clement

November 12, 2009 at 4:54 pm

I have a feeling that the chill wind of the inevitable cuts that will have to be made to balance the budget is running down the corridors of the States and their dependent organisations.
We can expect more of this as all the various quangos pop up to say how much money they are making /saving us so they don’t get the chop in the next few years.
A lot of this voluntary work benefits the individuals concerned so it is hardly being done pro bono publico, more a sensible investment to secure future wealth for themselves.

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