‘The key to the Island’s stability’
Saturday 20th November 2010, 3:00PM GMT.
Economic Development Minister Alan Maclean
THE financial services sector must continue to develop to ensure the Island remains fiscally stable.
That was the main message carried by Economic Development Minister Alan Maclean when he addressed a major trust conference.
The Senator said the finance industry was the powerhouse that provided the funding for the Island’s high quality public services.
‘In the face of the global economic downturn, it is more important than ever that we continue to be forward-looking and forward-thinking.
‘We must continue to take an active approach to the development of the financial services industry in Jersey, and its engine, the trust and wealth management sector,’ he said.
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The messenger boy delivers the orders of the ruling elite – Mr. Agenda 21 himself. Of all the politicians feeding out of the public trough, this is the only one who can talk for an hour and a half and say absolutely nothing!
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Go back to selling houses and stop ruining this island
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Power house? Or, an old engine that is developing a misfire?
Alan Maclean has no message other than; “Out with the new, stick with the old”. Time for a change I think!
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Alan: Ignore the left wing ratbag mob who wish it to end, even though everyone in Jersey benefits from this sector (directly or otherwise). Here, here – good comments all roudn Senator!
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At last someone standing up and saying it how it is! Well said Minister Alan Maclean
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Why don’t they just admit that if finance goes we are stuffed? Talk about desperate talk to keep it going.
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With most people becoming slightly less well off the old argument of “it’s still better than everywhere else” holds true.
Property prices, whilst ridiculously high, would represent fair value elsewhere given the tiny commute times, proximity to beaches, quality schools and medical care nearby, low crime rate …
However, as (4) points out … “if Finance go, we are stuffed”. Fair comment I reckon.
And Ireland are finding out that Finance is going. Well, it’s not – really the people are bailing it out.
Sound familiar, albeit to a smaller degree?
I think our “leaders” need to talk to the leaders of our competitors (i.e. the other offshore tax centres) and agree to some “price-fixing”. i.e. start taxing the (quite lawful) tax avoidance trusts/vehicles a small amount of tax. Implement it quickly across all (or all the major) “respected” locations, and then the money won’t take flight.
Result: Wealthy start paying a bit more for the benefit of tax avoidance. And the subsidy that we all pay (i.e. increased tax, GST and what have you) reduces or goes away.
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Matt (6) A very good and balanced post, you set Alan Maclean a real task. The big question is; is Alan Maclean up to the task?
Meanwhile the enlightened visionaries will be looking at the post finance world, which will surly come. Remember the staples of the Jersey industry and economy have been: stockings, cider, cod, knitting, ship building, potatoes, tourists, tomatoes, finance, fulfilment. Most of these industries are gone or weakened, one day they will all be history.
Our future depends in intellectual reflection, not rabid hysterics.
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As far as I am concerned the future isn’t in finance. Things change with time. Businesses come and go.
What are we going to do next?
Move on to something better?
Not until we change our politicians.
As per tax avoidance I’d just do away with it, then those most able to pay i.e. big business and their owners would pay more.
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Damian = Why don’t they just admit that if finance goes we are stuffed? Talk about desperate talk to keep it going.
I totality agree with you “Damian” as much as people dislike the finance industry, me being one of them, Jersey would go bust over night if the finance industry were to burnt or crashed.
House prices would fall and people would not be able to find buyers, “their struggling now”.
Mind you there would be a mass exit of people out of the island that if they could afford to leave.
Some of the people that had to leave their birth because of such high price, may well return.
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