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Information and public services for the Island of Jersey

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

Jersey Finance Limited: 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.

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  • 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

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A decision made on 5 August 2011:

Decision Reference:  MD-E-2011-0120

Decision Summary Title :

Approval of funds to assist Jersey Finance with additional inward investment activities in Q4 2011.

Date of Decision Summary:

29 July 2011

Decision Summary Author:

 

Deputy Chief Executive

Decision Summary:

Public or Exempt?

 

Public

Type of Report:

Oral or Written?

Oral

Person Giving

Oral Report:

Deputy Chief Executive

Written Report

Title :

n/a

Date of Written Report:

n/a

Written Report Author:

n/a

Written Report :

Public or Exempt?

 

n/a

Subject:   Approval of funds to assist with the continuation of inward investment activity in the final quarter of 2011.

 

Decision(s):  The Minister approved the grant of £25,000 to be used to assist in the additional costs associated with maintaining JFL financial services inward investment activity, post Stimulus funding.

 

Reason(s) for Decision:

In 2010 JFL was given Stimulus funding to allow it to undertake a preliminary programme to test the market for inward investment marketing activity in the UK. It became apparent early in the programme that there was significant market potential and the programme was extended until the end of September 2011. This decision will allow JFL to maintain the inward investment programme until the end of 2011, after the 2012 Business Plan has been debated by the States.

 

JFL has made a request to the Minister for additional grant funding in 2012 to extend the temporary employment contract of the current Project Manager and extend UK inward investment marketing, however a decision on potential future funding is not possible until after the Business Plan debate.

 

Resource Implications:

£25,000 from the EDD budget.

 

Action required:

The Deputy Chief Executive to arrange the transfer of the funds to Jersey Finance.

 

Signature:

 

Senator AJ Maclean

Position:

 

Minister for Economic Development

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

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