Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

Information and public services for the Island of Jersey

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

  • Choose the service you want to log in to:

  • gov.je

    Update your notification preferences

  • one.gov.je

    Access government services

  • CAESAR

    Clear goods through customs or claim relief

  • Talentlink

    View or update your States of Jersey job application

Jersey Finance Ltd. - supplementary grant

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made (12.06.08) to approve a supplementary grant to Jersey Finance Ltd.

Decision Reference:    MD-E-2008-0120 

Decision Summary Title :

Supplementary Grant for Jersey Finance

 

Date of Decision Summary:

3 June 2008

Decision Summary Author:

 

James Mews

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

Written Report

Title :

Supplementary Grant for Jersey Finance

 

Date of Written Report:

3 June 2008

Written Report Author:

James Mews

Finance Industry Development Executive

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Exempt 3.2.1(b)

Subject:  

 

Supplementary grant to Jersey Finance Limited (“JFL”).

 

Decision(s):

 

The Minister approved the transfer of budget of £505,000 from the Economic Growth Plan capital funds to JFL in 2008 in addition to the core JFL grant.

 

Reason(s) for Decision:

 

In the light of the recent London Business School report (“the LBS Report”) and the increasingly competitive international market it is important for Jersey to increase its marketing activities, carried out by JFL, in order to maintain the success of the finance industry, which is crucial to the continued well-being of the Island.  The money will be used solely to fund activities by JFL which are additional to its present activities and which will be beneficial to the Jersey finance industry as a whole.

 

A significant portion of this spending will be targeted at key existing and emerging markets including UK, Eastern Europe, India and China as well as on specific law development projects.  Finally, money is to be spent on additional promotional activity identified as necessary by the LBS report.

 

The sums involved are small in comparison with the potential benefit to the Island of this additional marketing activity.

 

 

Resource Implications:

 

There will be a cost to the States of £505,000.

 

Action required:

 

An additional £505,000 to be allocated from the Economic Growth Plan capital funds to JFL immediately.

 

Signature:  Senator P.F.C.Ozouf

 

 

Position:  Minister

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

 

 

 

 

 

Back to top
rating button