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WRITTEN QUESTION TO THE CHIEF MINISTER BY DEPUTY J.M. MAON OF ST. SAVIOUR
ANSWER TO BE TABLED ON TUESDAY 10th MARCH 2015
Question
Would the Chief Minister confirm or otherwise that, in reducing States expenditure, the funding to Jersey Finance will be reduced back to pound for pound match funding?
Answer
There is no plan to reduce the funding of Jersey Finance to a matched pound for pound basis.
Given the significant impact of the international financial crisis and the changing external environment I believe our investment in Jersey Finance has been fully justified. This industry remains the mainstay of the economy providing significant jobs and tax and supporting many other industry sectors.
Jersey Finance Limited has played a key role in maintaining and growing the finance sector, which has seen an overall increase in employment of almost 500 since the jurisdictional review they commissioned in 2013.