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Jersey’s top politicians are saying it’ll be business as normal despite the surprise result of yesterday’s UK General Election.
Whilst the Conservatives still have more seats than any other party, Prime Minister Theresa May has seen her majority slashed.
There’s now a hung parliament – no party has a majority – this will make pushing through legislation very difficult.
In a statement the Island’s Chief Minister, says: “UK elections are of course a matter for the people of the United Kingdom. It has been our consistent policy to develop strong relationships with members of parties across the political spectrum in the UK, particularly to ensure that they understand Jersey’s constitutional position and robust approach to tackling tax evasion and other forms of financial crime.
— Let's Talk Brexit (@letstalkbrexit) June 9, 2017
“We have worked well with the current UK Government on a variety of issues and have also built productive relationships with the Opposition, including the Shadow Chancellor and Shadow Foreign Secretary. I am confident that we will be able to work productively alongside any new government to ensure that the best possible deal is achieved for the Island in the forthcoming Brexit negotiations.”
The Minister for External Relations, Senator Sir Philip Bailhache, commented “In light of the potential impacts of Brexit on the Island, I look forward the opportunity to work closely with the UK Minister with responsibility for the Crown Dependencies at the Ministry of Justice, and their ministerial colleague at the Department for Exiting the European Union, once they are appointed. The Ministry of External Relations and Jersey London Office have built a network of official and political contacts across Whitehall on a range of matters and we expect a high degree of continuity and stability in advance of the Brexit negotiations this Autumn.”
CEO of Jersey Finance, Geoff Cook, echoed Senator Gorst's confident sentiments, stating, "...It is worth not in that Jersey's relationship with the UK remains unaffected."
Pictured: Jersey Finance CEO Geoff Cook said that "continuity and stability" was needed for the financial industry to prosper amid political turbulence.
He added: "Jersey’s Government has a network of official and political contacts across Whitehall, and that continuity and stability will mean that the interests of the Island and the finance industry continue to be represented irrespective of political change. The financial markets have reacted to the election results in predictable fashion and, while Sterling is likely to remain under pressure whilst uncertainty persists, this should be seen as a short-term response. Jersey Finance will be reminding stakeholders that our reputation as an international finance centre of excellence, the stability of our regime, and our access to the European market are all unaffected.
“The next ten days are likely to be marked by a great deal of speculation and hyperbole ahead of the Queen’s Speech and the start of Brexit negotiations, both of which are set for 19 June. We will continue to keep a keen eye on developments and to emphasise that neither political uncertainty nor the UK’s Brexit negotiations detract from the strength of Jersey’s position as a safe harbour for international investors in these uncertain times.”
Meanwhile, Jersey's Chamber of Commerce, which defends the interests of local businesses, stated that that a speedy government formation would be advantageous for the Island.
President Eliot Lincoln commented: "The speedy formation of a UK government is something that would enable Jersey’s External Relations team to continue Brexit discussions on behalf of the island and business community.”
Pictured: Chamber of Commerce President Eliot Lincoln said that it was "imperative" Jersey gets back on track with Brexit talks with the UK once a government is formed.
“We have been closely monitoring Brexit developments over the last twelve months, as new trade deals, tariffs and the free movement of people have been debated during early stage discussions. These are all proposals that could have a considerable impact on island businesses. It is, therefore, imperative that once a UK government is formed, Jersey’s Chief Minister engages in immediate and regular talks, to ensure that Jersey is at the forefront of UK EU Brexit negotiations,” he said.
He added that a partnership between the Conservatives and DUP (Democratic Unionist Party) could, "...pave the way for a softer Brexit deal, especially on issues such as the free movement of people."
"Continued access to the European workforce talent pool, will maintain recruitment flexibility for Jersey businesses.”
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