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OQ.185/2024
ORAL QUESTION FOR TUESDAY 1st OCTOBER 2024 Deputy K.M. Wilson of St. Clement will ask the following question of the Chief Minister –
"Further to the publication of Jersey's Fiscal Policy Panel 2024 Annual Report, and the comments therein in relation to the Strategic Reserve Fund, will the Chief Minister explain the Government's risk appetite, the plans for the strategic reserve and advise how this is reflected in the Proposed Budget (Government Plan 2025- 2028)?"
Written Answer provided in accordance with Standing Order 63 (9)
The Fiscal Policy Panel is very clear about the importance of the Strategic Reserve to Jersey's financial resilience, and the need to maintain and grow this fund because Jersey's reputation relies on sound, long-term financial management.
The Government's risk appetite is generally low. The Treasury Minister sets the investment strategy, further to advice, and balances the risk and returns on various types of investment, while also taking into account the immediate needs of Islanders and the need to invest in Jersey's infrastructure.
In line with the FPP recommendation, the proposed Budget sets out a plan to increase the value of the Strategic Reserve, achieving 30% of GVA in the median to long term