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WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY P.V.F. LE CLAIRE OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 24th FEBRUARY 2009
Question
"Given that a share portfolio could be subject to substantial losses, would the Minister confirm that the monies in the Stabilisation Fund are retained in the form of cash, and, if not, why not?
Would the Minister inform the Assembly by what value, if any, the Stabilisation Fund has reduced, and how much more, if any, will be lost once the portfolio is liquidated to provide cash support for local businesses?"
Answer
The Stabilisation Fund does not invest in shares so has not been subject to the same volatility in the financial markets as shares have. As a consequence the value of the Fund has not reduced in 2008 and would only do so by the amount spent for any approved purpose.