If we can’t borrow a modest amount at a time of extremely rare deficits, when can we?

Thursday 22nd July 2010, 3:00PM BST.

JEP columnist and Business Brief editor Peter Body considers what Jersey might learn from other jurisidictions of similar size.

‘So we have two small ‘island’ jurisdictions, which both rely on a good reputation to bolster their vital financial services sectors, who find it necessary to borrow. Indeed, both of them (and many others), borrow in the normal course of events, not just when there’s a crisis that hits their budgets.

‘But Jersey doesn’t even consider the option when there’s a crisis. It appears frightened to follow the example of others, because some of them have gone too far.
But if we can’t borrow a modest amount at a time of extremely rare deficits caused by the worst recession in living memory, when can we?’

• Read the full column in today’s Jersey Evening Post