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Jersey must “take advantage” of the opportunities the Brexit vote will present to the Island.
Chief Minister Ian Gorst yesterday told the States the UK referendum result in June is a golden chance for Jersey’s finance industry to cash in on Brexit.
Senator Gorst commented: “We have opportunities to continue to grow our economy and we can take advantage of the uncertainty that surrounds us because people want certainty. They want stability and we can offer them exactly that because our financial and business industries are not in the EU and have never been in the EU.
“We have to respond to the volatility coming out of the UK and that’s absolutely right. We have to take advantage and not give away the advantage we have. We have been given opportunities and we have to take them.”
The Chief Minister confirmed that he will meet the Minister of State at the Ministry of Justice with responsibility for Crown Dependencies, Sir Oliver Heald MP, on October 10th in Jersey.
“This will be an important visit and will offer Government a further opportunity to ensure our interests are being taken into account,” said Chief Minister Gorst.
The Chief Minister has also set up a Brexit planning unit, to coordinate all the various departments who will be affected by the UK departure from the EU.
The Chief Minister said: “The fundamentals of our economy are strong. We are well placed to deal with any short term uncertainty in the UK economy. The diversified nature of our financial services industry means we are also well placed to succeed in a post-Brexit environment. Our well-respected regulatory regime will not change after Brexit.
“Brexit will be a long process and it is currently only now in its infancy. Negotiations have not started but I can assure the Assembly that we have prepared for them thoroughly.”
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