Gorst: Jersey helps to "raise millions of people out of poverty"

Wednesday 17 May 2017

Jersey's Chief Minister has used a keynote speech to launch Enterprise Week to call on the island's financial services industry to "fly the flag" for globalisation, and to argue the sector was "raising millions of people out poverty."

Senator Ian Gorst also used the occasion to reassure local businesses that States finances were in good shape, with the Council of Ministers committed to "broadly" balancing the books.

With his speech coming on the day that the detail of new commercial waste charges were announced, amounting to up to £40,000 a year for some large hotels, his promise that Ministers will "help businesses to keep prices low" will have raised eyebrows amongst the hospitality guests. 

But it was on globalisation, and the work Ministers were doing to build business for the island overseas, such as with a new 'Africa strategy,' that the Chief Minister really directed his comments:

"We've developed an Africa strategy, and I don't want to say that's culminated...a lot of effort has been put in by Senator Ozouf quietly over the last three or four years, but this year that has led to me meeting the President of Rwanda, and on Friday the President of Kenya, and last weekend the Deputy President of South Africa at the World Economic Forum in South Africa, and that is part of our strategy to keep our economy strong, competitive and relevant into the future, meeting the challenges that we face.

"We can't be complacent. The economy is doing well. Now is not the time to close our doors to the world around us. We as an island, and as an economy, thrive on globalisation. We must stand up and fly the flag for the benefit of globalisation, our financial services centre, supporting globalisation, is raising millions of people out of poverty, and that is something that I am proud of, and I think its something that we as a community should be proud of as well. That message is becoming unpopular, its not being understood, and we must stand up and give that message."

Pictured: Chief Minister Ian Gorst speaking at the Pomme D'Or to make the start of Enterprise Week, organised by Jersey Business

The Chief Minister spoke about what he terms a "strategic refresh" of the Financial Services industry, using consultants McKinsey, in the light of the UK's Brexit decision, and for the first time revealed that their work also included the digital sector as well. 

And while on the subject of Brexit, he repeated his frequent assurances that the UK would look after Jersey's interests, in their negotiations to leave the EU:

"There's going to be compromise, there will have to be compromise. I am an optimistic person, even a challenge, I believe, can deliver some success. So on a technical level there are all sorts of challenges that Brexit presents for the UK and EU, and for our islands and the other crown dependencies. The way that we will deliver for Jersey... is to positively engage with the British government as they seek to make it a success. I have found that in all my meetings with the government ministers in the UK, that not at a single point have our interests been out of alignment with theirs, and that gives me hope because when they are going out to bat for the UK economy, they are also at the same time batting for the Jersey economy."

Approximately 130 guests gathered at the Pomme D'or to hear Senator's Gorst presentation, which was followed by the BBC's Business Editor Simon Jack, and local internet entrepreneur Nick Ogden. 

Enterprise Week is organised by Jersey Business, and includes 10 events, 36 speakers and  more than 500 participants.