The Banner of Arms of the Sovereign hangs above the Bailiff's Chair.
States' agreement for a fiscal and economic strategy to address the challenges and to secure the future prosperity of the island. This included reducing the island's
dependence on direct taxation with the introduction of a new three-per-cent sales tax in 2008 - an innovation for Jersey. The aim is to maintain a low inflation rate, below 2.5 per cent, while improving productivity to help create real economic growth in excess of two per cent a year. The Council of Ministers has also
trimmed £35 million, annually, off public expenditure and reinvested this in providing a range of first-class public services. Since the introduction of Jersey's new
system of government, the Council of Ministers has consulted widely to crystallise what Jersey people value most about their island. This has been translated into a
Strategic Plan which recognizes the critical choices that are required to safeguard the best and improve the least satisfactory aspects of life in the island.
The current strategy aims to grow
Jersey's stature in the world and to be ambitious, confident and forward looking. It has addressed the domestic issues too, including investing more in supporting those who are in real need, providing good education for children and tackling social inequity and discrimination. This has required the Council of
Ministers, working as a team, to consider the difficult priorities for the island as a whole above the interests of their individual departments.
Positive achievements Evidence of the success of Jersey's new government is beginning to be seen:
1. The island's economy is growing at
the healthiest rate for many years; 2. The fiscal strategy has been
endorsed by independent economic experts; 3. Even after the introduction of the
fiscal strategy, Jersey will remain one of the lowest taxed jurisdictions compared
with OECD countries; 4. Public sector expenditure has been
focused primarily on health, education and social care; 5. Sustainable economic stability is
being safeguarded by investing current revenue surpluses into a newly formed Stabilization Fund, and 6. The island's international identity
continues to develop as a recognized and respected jurisdiction.
Overall, the position of Jersey both internationally and domestically represents a remarkable achievement. But Jersey cannot be complacent: there are signs that the global economy is much less certain that it has been; the international political scene has experienced some major setbacks, and Jersey continues to face fierce competition. Jersey's government is working to a
strategic plan and, with the new ministerial arrangements, it can respond quickly and effectively to any change that may come its way.