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WRITTEN QUESTION TO THE CHIEF MINISTER BY DEPUTY G.P. SOUTHERN OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 29th APRIL 2014
Question
"Does the Chief Minister consider that the potential expansion of the finance sector workforce by at least 900 additional posts over the next five years announced by the CEO of Jersey Finance is sustainable, given that growth at this level in a single sector of the economy would already exceed the modest targets set by the Council of Ministers in its interim population policy for the whole of the economy and, if so, why?
Can the Chief Minister cite any evidence which would support the assertion made by the CEO that 80 per cent of these additional posts would be filled by those with 5-year entitlement to work?"
Answer
An expansion of employment in financial services employment is welcome and should be firmly supported, in particular the emphasis on the employment of "entitled" and "entitled to work" people.
It is entirely consistent with our strategies, including the Interim Population Policy - which has a clear focus on high social and economic value activities and supporting the employment of established Islanders.
As to the size of the expansion, the survey suggests migration of 180 workers over 5 years (20% of 900) which fits within the net migration planning assumption of +325 people per year.