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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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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.
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.