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WRITTEN QUESTION TO THE CHIEF MINISTER BY DEPUTY G.P. SOUTHERN OF ST. HELIER ANSWER TO BE TABLED ON MONDAY 15th JULY 2013
Question
Can the Chief Minister account for the discrepancy between the statement in the Capital Economics report that Jersey is custodian of £1.2 trillion of wealth: £200 billion in banks; £400 billion in trusts established by private individuals; £400 billion in specialist structures for businesses and institutions; and £200 billion in administered or managed funds' and the figures
given in the quarterly report of Jersey Finance Limited that the total value of banking deposits held in Jersey increased by £3bn from £152.1bn to £155.1bn during the first quarter of 2013'?
Does this cast the credibility of the report into some doubt? Answer
I would refer the Deputy to Page 39 Figure 27 in the report which provides a breakdown of the £200bn figure in banks. This figure includes deposits, customer loans and other assets. The deposits figure quoted by Jersey Finance relates to bank deposits only.