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New government structure to improve shareholder governance

14 March 2019

​The Assistant Minister for Treasury and Exchequer has welcomed the Comptroller and Auditor General’s (C&AG) follow-up report into the Government’s governance arrangements to discharge its responsibilities as a shareholder.

The review evaluates the progress made in implementing recommendations following a 2014 review into the Government’s specific responsibilities as a shareholder in Jersey Telecom. The Assistant Minister for Treasury and Exchequer, Deputy Lindsay Ash, said:

“As the sole department tasked with implementing the recommendations made in 2014, we have been working hard to fulfil all the objectives set out in the original report.

“We have made progress and the Treasury has engaged experts to review shareholder governance, but we accept that the work has not been as quick as we would have liked. I am pleased the C&AG acknowledges that successful implementation will require effective working between the Treasury and Exchequer and other departments responsible for policy development. Treasury officers look forward to working closely with colleagues from across government to meet the recommendations of the Comptroller and Auditor General.”

As part of the Government’s restructuring, a Head of Partnerships, with expertise in the operation of companies across various sectors, will be appointed. Officers from the Financial Services and Digital Economy team will work with the person appointed to the new role and the Treasury and Exchequer to help move forward an action plan drafted to fulfil the recommendations of the C&AG.

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