​​This is the fourth annual report of the Fiscal Policy Panel. As required by the States’ Fiscal Framework, the report makes recommendations to the Minister for Treasury and Resources and the States on Jersey’s
fiscal policy and on additions to or subtractions from the Stabilisation Fund and the Strategic Reserve.

These recommendations are based on an assessment of the Jersey economy in the context of overseas
economic developments and the risks and uncertainties that the Island faces.

The Panel’s work is guided by five key principles. These are:

1.  economic stability is at the heart of sustainable prosperity;
2.  fiscal policy needs to be focused on the medium-term;
3.  policy should aim to be stable and predictable;
4.  supply in the economy is as important as demand; and
5.  low inflation is fundamental to the competitiveness of the economy