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STATES OF JERSEY
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MODERNISATION OF JERSEY'S GAMBLING LEGISLATION (P.62/2004): COMMENTS
Presented to the States on 11th May 2004 by the Finance and Economics Committee
STATES GREFFE
COMMENTS
The Finance and Economics Committee supports, on financial grounds only, the principles of the report and proposition on the basis that it will be closely involved in the development of the fiscal and economic implications of the principles of the projet, if approved by the States.
The Committee notes that the initial estimates of revenue arising from the casino are significant but not necessarily founded on detailed analysis of the local market. It is also understood that other forms of gambling and gaming are likely to produce revenue for the States if taxed in a similar manner. It is appreciated that further analysis of the quantum of financial benefit will be accumulated by the Economic Development Committee if the States approve the principles of this report and proposition.
The Finance and Economics Committee will undertake to work with the Economic development Committee to ensure that the development of these proposals, if approved, will provide clear and material economic benefit to the Island, and will only endorse the implementation of these principles if it considers that the financial benefit to the Island outweighs other considerations that may arise.
The Committee would further require that any set-up, consultation or initial legislative costs would be met within the existing resources of the Economic Development Committee.