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Guernsey And Jersey To Share Fiscal Advisory Panel

Wednesday, February 17, 2010

Guernsey’s Policy Council has appointed the 3 leading economists who form Jersey’s Fiscal Policy Panel to advise them on their own policies.

Jersey appointed the 3 economists, Joly Dixon, Marian Bell and Christopher Allsopp, to advise on fiscal policy in 2007. The Panel’s first interim report for Jersey was published in April 2008.

Announcing the decision, Guernsey’s Chief Minister, Deputy Lyndon Trott, said: “Last April the Policy Council brought before the States of Guernsey a Formal Fiscal Framework designed to safeguard the States continued conservative fiscal legacy. The States overwhelmingly backed those proposals, key to which was the adoption of an external panel of experts to provide independent opinion on the conduct of States policy. “

“These 3 eminent economists have agreed to constitute our inaugural panel membership. They already have a demonstrable track record with this kind of role on behalf of the States of Jersey, agreeing a common membership between us is a positive signal in support of pan-island collaboration.”

Jersey’s Treasury Minister, Philip Ozouf, commented: “I am pleased to see Jersey and Guernsey working together in this way. The joint use of the Fiscal Policy Panel has numerous advantages, not least of which is the fact that the members’ reputation and professionalism has already been demonstrated by their work for us in Jersey. I hope this proves to be one of many successful examples of the growing cooperation between the islands.”

Joly Dixon, Chair of the Panel, concluded: “We are delighted to be working with the States of Guernsey. Our work in Jersey has shown the benefits of a Fiscal Policy Panel. We welcome the decision of the Guernsey Policy Council to establish a fiscal framework and look forward to working with others to make it a success.”