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Clarification sought over Ministerial responsibility for Financial Services

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The Economic and International Affairs Scrutiny Panel held a Quarterly Hearing on the Government Plan 2023 – 2026 with the Minister for External Relations and Financial Services, Deputy Philip Ozouf and the Minister for Treasury and Resources, Deputy Ian Gorst.

At the Hearing, the Panel asked for clarification from both Ministers as to who holds responsibility for Financial Services. Deputy Ozouf explained that the legal accountability and final decision making for Financial Services remains within his remit and that the intention of the Chief Minister, Deputy Kristina Moore, is to transfer accountability and responsibility for Financial Services to the Minister for Treasury and Resources in due course.

The Panel also questioned the Minister for External Relations and Financial Services on issues related to labour shortages. The Minister acknowledged that 'the recruitment crisis is acute', describing work permit applications as 'an incredibly cumbersome process [that] costs a great deal of money'. The Panel heard that a task force had been set up to identify issues relating to labour shortages and to highlight options which could help cope with these issues, one of which was a 'kite mark' scheme to approve employers and establish an ethical framework.

The Panel questioned the Minister on his recent trips to the USA, Brussels and France and heard how discussions with EU Country representatives on issues such as the ongoing conflict in Ukraine, sanctions, energy security and existing areas of cooperation on climate change were being developed.  The Panel asked the Minister how allowing French day trippers to enter Jersey using a French ID Card would address the falling number of visitors and it was explained that it is a legal requirement in France for French nationals to hold an ID card and this is favoured by most over a Passport.  The Minister explained he is in talks with France and the UK to mitigate this problem further explaining that 'allowing French visitors to use identity cards to travel to the Channel Islands could help reverse delays in the tourism industry.'

Deputy Moz Scott, Chair of the Economic and International Affairs Scrutiny Panel, thanked Deputy Ozouf and Deputy Gorst for their contributions and said, 'We look forward to regular updates as to when and how legal responsibility and decision making for Financial Services will transfer to the Minister for Treasury and Resources. It is the Panel's intention to invite both Ministers to separate hearings once the transfer order has been signed which will allow us to explore the remit of each Minister in more detail.   

A full recording of the public hearing can be watched here