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Organisations invited to discuss financial planning

18 September 2012

The Treasury Minister is inviting business organisations, third sector groups, associations and clubs to meet members of the Ministerial team to discuss the Medium Term Financial Plan (MTFP). 

In the run-up to the States debate on the Island’s first 3-year financial plan, Senator Ozouf is keen to discuss its contents with politicians, interested groups and individuals. As well as a series of meetings, he will also be holding an online question and answer session.

Senator Ozouf said “The plan is due for debate on the 6th of November. It provides the resources which will underpin the delivery of the priorities agreed in the States Strategic Plan. As it proposes funding a number of critical initiatives brought forward by departments, I want to make sure Islanders have the chance to understand it fully.”

 The plan proposes: -

  • funding for the first 3 years of the Health and Social Services transition plan
  • extra funding for some of the key promotional agencies which will help diversify and grow Jersey’s economy
    • Digital Jersey - to promote the expansion of Jersey’s digital economy
    • Jersey Business - to support local firms in difficult economic conditions
    • Locate Jersey - to attract businesses and high net worth residents to the island
  • more than £20 million to refurbish a number of St Helier estates between 2013 and 2015, enabling more States homes to meet the Decent Homes Standard - a key aim of the ‘Achieving Decent Homes’ White Paper
  • £76 million for 11 new build projects, to provide many more new social homes for Jersey residents

Senator Ozouf added “This is a plan which prepares realistically for the future and puts in place our new, longer-term approach to budgeting. It proposes significant investment in areas that will make a real difference to Islanders’ lives; areas like health, housing and boosting employment opportunities through economic growth.

"Funding to support the new Economic Growth and Diversity Strategy will stimulate the economy and, most importantly, create employment opportunities for Jersey residents.”

Treasury Assistant Minister, Deputy Eddie Noel, said “The Medium Term Financial Plan delivers growth in essential services, balanced revenue budgets and support for the economy. It does this by making careful use of existing resources, by seeing through CSR savings and by proposing a capital programme that can provide improved services and fiscal stimulus. We welcome debate on this.”

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