16 March 2026
An action plan to safeguard and grow the Island's financial and related professional
services (FRPS) sector has today been published by the Government of Jersey.
The plan – entitled Time to Win – follows the most comprehensive review of the FRPS
sector in more than a decade.
The industry is the bedrock of the Island's economy. It is responsible for more than
half of the £6bn generated by Jersey's economy each year, provides two out of every
five jobs in Jersey, and generates £6 in every £10 of tax revenue – equivalent to
funding the entire health and education budgets and most of social security.
The Time to Win report sets out Jersey's strategy for growth.
We will:
Protect our simple, stable and certain tax regime with tax neutrality at its core
Reduce costs of doing business for all FRPS firms and their clients
Renew our appetite for growth, optimising promotion in priority markets and providing a welcoming front door for new business
Innovate processes and products, embracing digitalisation and taking a lead on tokenisation
Enhance our infrastructure, investing in connectivity and our IFC infrastructure.
Taken together, it represents the most ambitious set of reforms in a generation and is
supported by £30m identified in the 2026-2029 Budget for investment in
competitiveness.
Deputy Ian Gorst, Minister for External Relations who has responsibility for financial
services, said: “The importance of our financial services industry cannot be
underestimated – it is the engine of our economy and has underpinned so much of
daily life in Jersey for many decades.
“But the truth is the world is changing. We are facing increased competition from
other centres, and emerging technology is allowing people and businesses to move
around with increasing ease.
“We therefore need to fight harder than ever before to maintain our competitive
edge. In a fast-changing global landscape, this is a once-in-a-generation opportunity
for government, industry and regulator to work together to make sure Jersey seizes
the opportunity of this Time to Win.
“I would like to thank everyone who has played their part in the Competitiveness
Programme so far – Government officials, Jersey Finance, the JFSC, our industry
partners and the Expert Panel who produced recommendations on which we have
based our own action plan.
“I am confident that we have a clear framework to build on our long-standing
reputation for quality and consistency, and take us forward with renewed energy to
safeguard and grow this vitally important industry."
Sir Howard Davies, who chaired the Independent Expert Panel, added: “Jersey has
strong foundations. Whilst it is facing significant challenges, it is well-placed to take
the decisive action and reforms needed"
Summary report: Time to Win summary brochure.pdf
Full report: Time to Win report.pdf
gov.je