Jersey's Treasurer resigns in Budget week

Monday 14 July 2014

The States Treasurer has resigned, just days before the 2015 Budget is to be announced, on the grounds that she wants to spend more time with her family in the UK. The Chief Officer for Social Security, Richard Bell, has been appointed interim Treasurer until a permanent replacement is found.

The Island's 2015 Budget, the last before the major States elections in October was originally due to have been published last week, but that announcement has now been shifted to this Friday instead.

Laura Rowley took up her role in November 2010: “I have worked hard to deliver a significant agenda agreed with the Treasury and Resources Minister and I’ve been delighted to see the culmination of this work. In addition to strengthening financial management, I am pleased to have had the opportunity to play a lead role in securing the funds needed for Jersey’s major infrastructure projects - a new hospital, more and better social housing, and a modernised liquid waste system.

 “While it would be gratifying to stay and enjoy the results of this work, it has become increasingly important for me to be nearer to my family, and now is a fitting time for me to hand over the baton and to look for new challenges. I will always hold Jersey in great affection".

Before moving to Jersey, Ms Rowley was the Director of Resources for Shropshire Council. 

The Chief Minister, Senator Ian Gorst, said: “I would like to add my thanks to Laura for her hard work leading the States’ finance functions for the last four years. Her innovative resourcing solutions have helped us navigate a worldwide financial recession and I wish her luck in her future career.”

The Treasury Minister, Senator Philip Ozouf, added: “In the last four years Laura has been instrumental in delivering many significant developments in the Treasury. She has implemented a diversified investment management strategy for the Common Investment Fund, achieving an improved rate of return in less than two years.

 “Laura has reconfigured the presentation of the States financial reporting to meet International Accounting standards, reorganised internal budgeting requirements, and moved from an annual budget cycle to a three year Medium Term financial plan.

 “Additionally, Laura led the move from the final salary staff pension scheme to a Career Average scheme and led the States through the process of achieving a credit rating of ‘AA+ with stable outlook’ from Standard and Poor’s. I would like to thank Laura for her dedication to the Treasury and to the States of Jersey.”