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Chief Minister pledges to cut number of wealthy newcomers

Chief Minister pledges to cut number of wealthy newcomers

Tuesday 11 October 2022

Chief Minister pledges to cut number of wealthy newcomers

Tuesday 11 October 2022

The Chief Minister has made a pledge to reduce the number of '1(1)(k)s' allowed into the island each year and review the available data about their value to the island.

It's part of Deputy Kristina Moore's 'Ministerial Plan', which has been published for the first time today.

The Plan follows closely behind last week’s Government Plan, which sets out firm spending plans for next year and aspirations for the following three; and Deputy Moore and her team’s Common Strategic Plan, which sets out broad priorities.

The island has been welcoming - and encouraging - applications from high-net-worth individuals to come and live in the island for more than 50 years. Once informally known as '1(1)k residents, after the articles of the Housing Law which defined their status, the official term is now 2(1)(e).

However, this Government has already expressed a desire to change the rules

In her Ministerial Plan, Deputy Kristina Moore pledges to "update the 2(1)(e) policy to enhance the economic, social, and benefits to the Island from a fewer number of 2(1)(e) applicants, while valuing our high value resident community. This will include a review of available performance data and industry-engagement."


Pictured: Deputy Kristina Moore.

Last year, there were 25 applications for 2(1)(e) status and 23 were approved. In the past five years, 2017 saw the highest number of applications, at 36, with 34 approved.

The latest Government Plan, published last week, raised the minimum amount of tax that 2(1)(e)s have to pay by £25,000 to £170,000. 

It's unclear that this stage what impact the decision to reduce efforts to attract wealthy immigrants will have on Locate Jersey, which is the Government department responsible for administering the scheme.

Today marks the first time each Minister has published a full plan of their key priorities for the key, and you can read Express's summary of the full set here.


FOCUS: Ministers reveal their priorities for the term ahead

IN NUMBERS: What's the budget plan for the next four years?

Duty freezes and more money for Health in new Gov's spending plans

FOCUS: Moore sets the agenda for her Ministers

FOCUS: What is Kristina Moore's Chief Ministerial 'vision'?

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Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.

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Posted by Paul Troalic on
This sounds like good news. The wealthy are devastating the Island. I heard of one local business whose premises were bought by a wealthy immigrant and she was given notice to quit the premises.
This is not helpful.
We also need to charge those that decide to reside here and bring their wealth a 'proper' rate of tax ie 20% on all their income. Not to to do this is discriminatory to lower paid islanders.
I will shortly be publishing a Petition to this effect and hope it will gain a lot of support.
Posted by Robert Gabriel on
There are undoubtedly a number of individuals, organisations and businesses that directly benefit from attracting high-net-worth individuals to Jersey. However, the reality is that most of the so-called 'benefits' that these people contribute to our economy and to Jersey are shrouded in mystery. Unfortunately, until now no one has dared to ask the question about whether Jersey really is benefitting from that situation. Kristina Moore is therefore to be congratulated for doing something that is long overdue, namely asking for proof that the rich really are making as big a contribution to the island as we've been led to believe that they are!
Posted by Madeline Bates on
Let's be honest, many of these wealthy immigrants spend more time swanning around io their yachts, than living in the Island.
Posted by Scott Mills on
It's too late Mr re-active politician. They already here or on their way. Why shut or close the door once they in? I totally agree with Paul Troalic. The island doesn't benefit, only the person coming in, a few businesses if that. They don't go out more than the common person to eat a restaurants or frequent the pubs on a friday night. Our government will always be reactive...never pro. We still paying for no corporation tax here, even just 1% would help the island, but no!!! or should I say never! jersey could be great again...sadly the theme of the island is very much "Greed without community". Very sad, having experienced the island before the turn of the century.
Posted by on
Surely this is the wrong way round.

Isn't better to have 100 people a year paying £170,000 a year rather than 1000 paying little to no tax?

The rich pay for everything themselves, and do not rely on the state to pay for education, health care and housing. The low paid are very happy to criticize these people but are also happy to accept the benefits of work they bring to the island, free education, free health care and free housing when it is being paid for by the tax contributions of these people.

How much is being contributed to the overall tax take by the massive influx of low paid workers in the hospitality industry? Or the construction industry when all you see going to work every morning are UK reg vans pouring off the boat going to jobs. Are they paying local tax? And if not, why not?

The rich that are having to jump through hoops to come and live here and are being vilified for being wealthy and paying huge sums in taxes. If they are being subjected to such scrutiny, why is the same thing not being applied to the thousands of people that have moved here over the past decade, they are the ones who have added to the housing crisis and lack of education places in schools, not the wealthy who pay for their children's education.

This is wrong, the very people causing the problem by being part of the mass immigration into the island, are the same ones being extremely vocal about the rich living here.

Hypocritical, to say the least.
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