‘Dip into the rainy day fund’
Thursday 27th October 2011, 2:57PM BST.
Deputy Geoff Southern
AN extra £20 million could be pumped into Jersey’s struggling economy next year if new proposals are agreed by the States.
Deputy Geoff Southern has called for the money to be withdrawn from States Strategic Reserve account – known as the rainy day fund – and used to create and safeguard jobs during 2012.
The Deputy hopes that the money will be used in a similar way to the £44 million which has been withdrawn from another States reserve account to stimulate the economy over the last three years.
The money has been used to fund major construction work, bring forward housing refurbishment projects and to help Islanders retrain and develop new skills.
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Amazing! This deputy didn’t even top the poll in the district he stood in last week’s elections yet he still thinks he’s in the States on an Island Wide Mandate. Leave the Rainy Day Fund alone, it’s only there for last resort emergencies!
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You would have thought that the interest alone on the strategic reserve would be enough to fund any significant project without touching the original sum.
Rainy day? – it’s pi**ing down in case you haven’t looked.
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That’s right Geoff, just spend all of the rainy day fund and give the Union members the pay increases they so need and keep people not needed in States jobs and happy go lucky pensions. Somebody else in the future will pick up the tab. Such wisdom!
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Please would the JEP explain why this man gets so much publicity/press.
Everyday we are exposed to another Southern proposal which is generally unworkable economically. This isn’t news to me.
If I said use the rainy day fund to keep everyone in a job would that merit front page coverage.
Perhaps I am missing something….
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If you are not careful, there will be no Rainy Day Fund left and you will be in a total mess….take note of what is happening in Europe and the rest of the world!
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Oh dear! Well at least this guy doesn’t teach any more so isn’t influencing the youth of tomorrow – small mercies
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When will red Geoff understand
He only has a mandate to look after those in Helier #2 and keep his terribly misguided mitts off money intended for island wide use.
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Spot on Geoff, is Oz cann’t see it’s raining……..ok not a good example…he cann’t see anything.
Of course this money should be used, this is why it was created, if it cannot be used in times of great need, huge unemployment, the worst financial crisis in living memory, then what is it for?
Can someone tell me what we are saving for??
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“The problem with socialism is that eventually you run out of other people’s money.”
Perhaps Southern would remember this quote before constantly trying to spend and spend everyone elses money.
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I love how all the anti-JDA crowd come out to dismiss this proposal, even though it is actually just an extension of what is already the Council of Ministers policy, but I got a feeling you won’t be out so quickly to criticise them!
Great thinking there.
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7. PJG
You obviously don’t understand Jersey politics. The job of the Deputies is to represent their constituents views in the States. Their constituents will have views on all island matters and will be affected by all island matters. This is entirely within his jurisdiction. After all, we do have Deputies and Constables in the Council of Ministers don’t we?
If you want to disagree with a politician you don’t like, it’s best to stick with the facts of the issue instead of silly things like that.
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I thought the JDA had been disbanded after internal disagreements? Stupid idea anyhow, he only wants to use the money to award pay increases.
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The Jersey Development company has £41000000 sat in its bank account doing nothing,this is where the cash should come from.It may also prevent them from squandering it on ill concieved projects that we can’t afford.
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Those who voted this guy in should hang their heads in shame.
On the one hand their representative wants to raise the minimum wage to save spend on benefits, then on the other, spend £20 million to keep people in jobs… the very people who will be made redundant by small businesses if the minimum wage is increased!!!!
It’s a shame this confused economic contradictory nonsense of Southern’s didn’t materialise before the elections because then people, who were allowed to vote for him, could have seen how incompetent he is. Or does he just talk crap to promote himself?
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Can someone please shut this guy up!
Some primary school students have a beeter understanding of how the Economy works than this muppet.
Fed up of hearing his daft ideas.
Let have an Extra Bank Holiday has to be one of my favourite!
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its only paper money, its not a if its backed by gold reserves , is it?
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@3 Geeky Blogger
THANKYOU, someone on our side, i was beginning to worry i’d have to dip into MY rainy day fund
Now where did i put that pension investment brochure.
Remember, we’re grateful… and thanks for the salary.
Love & Hugs
XXX
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Anybody wonder why nobody knows how much is in the rainy day fund?
It is being constantly dipped into to prop up our awful states decision and cover up the usual massive overspends and piss poor budgeting.
Taxes are going up.. GST will be 7.5% next year and 10% by 2014.
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@ No 2 – Mulvie Le Phew….We should use the Rainy Day Fund to build an ark!
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Tom h the problem with capitalism is that it is destroying the planet rather rapidly.
JerseyD if you and others are that worried about bank holidays why not give them up and work for your employer for nothing? Better still why not work 365 days a year to help your employer out in these hard times? I know your employer would love you for it.
small money good point money is an illusion dependent on sheeple having confidence in it. When they finally see the light money will lose its grip.
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Geoff Southern knows as much about economics as my cat – and she died last year !
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#7 PJG This from States’ Standing Orders:
“Elected members have a general duty to act in what they believe to be the best interests of Jersey as a whole, and a special duty to be accessible to the people of the constituency for which they have been elected to serve and to represent their interests conscientiously.”
So, if the conscience of an elected deputy directs him to propose that the so-called Rainy Day Fund be used that’s entirely appropriate. It is within his remit. The States of Jersey Law, Schedule 2, Oaths, Part 1(Article 11) concludes: “All of which you promise to do on your conscience.”
Now, can we get on with helping people in need and consider using our vast wealth rather than simply bashing the person who suggests it.
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