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Gov appoints new Chief Economist

Gov appoints new Chief Economist

Tuesday 25 January 2022

Gov appoints new Chief Economist

Tuesday 25 January 2022

The Government has appointed a senior executive in the UK Infrastructure Bank and former Cabinet Office member to lead the department advising it on economic policies.

Tom Holvey, who succeeds Nick Vaughan as Chief Economic Advisor, will take up the role of Chief Economic Advisor in March 2022.

Mr Holvey is joining from the UK Infrastructure Bank, where he was the Chief Economist and Chief Impact Officer.

During his career, Mr Holvey has led on the delivery of economic policy and programmes for Leeds City Council. He also spent three years working on economics, policy development and projects for the government of Saint Helena and, while working for the Cabinet Office, was the lead economist for the UK government’s digital services.

Recently he has been working on both Brexit and the covid response for the Department of Health and Social Care.

Broad Street Government building

Pictured: Mr Holvey  will lead the Economic Advisory Directorate.

As Chief Economic Advisor, Mr Holvey will lead the Economic Advisory Directorate, which advises Government on all aspects of economic policy and Jersey's economy, from micro-economic issues such as personal and business taxation to broader macro-economic issues such as controlling inflation and generating economic growth. 

The Economic Advisory Directorate, which is part of the Department for the Economy, is also responsible for competition and intellectual property policy.

“The Chief Economist’s advice shapes every aspect of government policy, and Tom has experience ranging from health care to financial services and, having worked in Saint Helena, he understands the nature of island economies," Richard Corrigan, the Department for the Economy’s Director General, said.

"Tom’s appointment follows a comprehensive search that engaged over 160 candidates as we sought the necessary breadth and depth of experience to ensure continued good counsel across government.”

“Leeds is the UK’s second city for financial and professional services, and while in Saint Helena I gained an understanding of the how island economies work," he said.

"More recently I have been providing economic advice on carbon net-zero and supporting local growth, two agendas that will be of importance to the future economy; all of which I hope will stand me in good stead for the opportunity ahead. 

“I’m very aware of the legacy and importance of this role and look forward to contributing positively to the wide-ranging debates that are taking place in Jersey, helping both the economy and local communities to thrive.

"I believe that good economic advice can help make government delivery more effective and I’m excited by the fact that I can be part of the island’s future success.”

Commenting on Mr Holvey's appointment, Senator Lyndon Farnham, the Deputy Chief Minister and Minister for Economic Development, Tourism, Sport and Culture, said: “When considering policy, it is important that Ministers have access to economic advice which enables them to analyse the full implications of the decisions they are taking.

"I am delighted that we have found someone of Tom’s calibre to support us. It is a pivotal role, and I am sure that he will make a significant contribution to Jersey’s future prosperity and success.”


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Posted by Keith Marsh on
Yet another very expensive role goes to a ex UK worker ~ Jersey cannot afford this and local individuals must be employed.
Posted by nigel pearce on
I would have thought that there was plenty of local expertise on island and no need to import any. It seems that there is a deliberate policy not to employ any local talent. I wonder what the ultimate motive is.
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