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Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Chief Economic Advisor Appointed

25 January 2022

Thomas (Tom) Holvey, a senior executive in the UK Infrastructure Bank, has been appointed Chief Economic Advisor by the Government of Jersey.

As Chief Economic Advisor, Mr Holvey will lead the Economic Advisory Directorate, which advises Government on all aspects of economic policy and Jersey's economy, from micro-economic issues such as personal and business taxation to broader macro-economic issues such as controlling inflation and generating economic growth.

The Economic Advisory Directorate, which is part of the Department for the Economy, is also responsible for competition and intellectual property policy.

The Deputy Chief Minister and Minister for Economic Development, Tourism, Sport and Culture, Senator Lyndon Farnham, said: "When considering policy, it is important that Ministers have access to economic advice which enables them to analyse the full implications of the decisions they are taking. I am delighted that we have found someone of Tom's calibre to support us. It is a pivotal role, and I am sure that he will make a significant contribution to Jersey's future prosperity and success."

Mr Holvey is moving from the UK Infrastructure Bank, where he was the Chief Economist and Chief Impact Officer. During his career, Mr Holvey has also led on the delivery of economic policy and programmes for Leeds City Council, spent three years working on economics, policy development and projects for the government of Saint Helena and, while working for the Cabinet Office, been the lead economist for the UK government's digital services. Recently he has been working on both Brexit and the Covid response for the Department of Health and Social Care.

The Department for the Economy's Director General, Richard Corrigan, said: "The Chief Economist's advice shapes every aspect of government policy, and Tom has experience ranging from health care to financial services and, having worked in Saint Helena, he understands the nature of island economies. Tom's appointment follows a comprehensive search that engaged over 160 candidates as we sought the necessary breadth and depth of experience to ensure continued good counsel across government."

Mr Holvey, who succeeds Nick Vaughan as Chief Economic Advisor, will take up the role in March 2022.

Mr Holvey said: "Leeds is the UK's second city for financial and professional services, and while in Saint Helena I gained an understanding of the how island economies work. More recently I have been providing economic advice on carbon net-zero and supporting local growth, two agendas that will be of importance to the future economy; all of which I hope will stand me in good stead for the opportunity ahead.

"I'm very aware of the legacy and importance of this role and look forward to contributing positively to the wide-ranging debates that are taking place in Jersey, helping both the economy and local communities to thrive. I believe that good economic advice can help make government delivery more effective and I'm excited by the fact that I can be part of the island's future success."

"Outside work, I am a sports fan with a particular passion for horse racing, and I'm very much looking forward to visiting Les Landes Racecourse."

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