More Research into the effects of JT sale

07 June 2007

The Treasury has announced that, in response to a comment raised by the Economic Affairs Scrutiny sub-panel in its report on the proposals for the sale of Jersey Telecom, more research will be carried out before final recommendations are made to the States for debate in the autumn.

The purpose of this work is to identify what form of ownership of JT is likely to be in the Island ’s best long term interests.

A joint steering group has been established to oversee this review. The group includes the States chief executive, the Treasurer, Economic Development’s chief officer, JT’s chief executive and Professor David Parker, the telecommunications expert who has been retained to advise the Scrutiny sub-panel. The review is being undertaken by Oxera, economic advisers to the States.

Treasury Minister Senator Terry Le Sueur said today: ‘The purpose of this work is to provide the States with further analysis which will help inform the debate on the future ownership of Jersey Telecom. It aims to build on the considerable work that has already been undertaken and provide additional analysis. It will respond to a number of issues which have been raised by other interested parties, and particularly, by the Scrutiny panel. The outcome of the review may well result in a revised proposition on the sale of JT being considered by the States in the autumn.’

Part of the work will involve consultation with States members, who have been invited to meet representatives from Oxera on 14 June. Oxera’s report, and the recommendations of the steering group, will be published in late July.

ENDS

For more information contact Treasury Minister Senator Le Sueur, T 863994, or States Treasurer Ian Black T 440215.

Embargoed until 11.00 hours Thursday 7 June