Letter to the Editor of the Jersey Evening Post 12th October 2010

John Heys

The worst anti-Jersey decisions are ....... ours.

For years now I have been expressing my concerns about our government putting all our support and financial grants into the so-called finance industry, and trying to point out that it could up sticks and blow to where the sun shines brighter where they could make even more money.

Oh, no, no, no, the gurus proclaimed, it could never happen. So our only hopes of a rescue, should it happen - tourism and agriculture - have disgustingly been underfunded and allowed to run down to virtually unrecoverable low levels.

Did I hear that Finance is down 12%. Not a word from Mr. Cook or Senator Ozouf about how wonderful that is.

So we turn to a possible saviour: tourism. Of course, we would have to rapidly build hotels and possibly inexpensive accommodation to cater for the influx. We could promote Jersey for the beautiful Island it is and introduce walking holidays, horse riding adventures and sea fishing, etc. But hold on a minute - how would that bring in the money? Our Chief Minister has effectively ruined any tourism advantage with his crazy idea of zero-ten.

Take this scenario: a couple fly or sail here from the UK. In both instances the travel companies are registerd outside the Island, so no money for Jersey there. They go into our diminishing town and see that, assisted by his ludicrous GST to try to make up for the zero-ten, prices are even higher than where they have come from so they do not spend.

Tourism has been effectively stamped out, and we are left with the god of finance, who only pay 10% tax (if you cannot find ways of avoiding even that), instead of 20% which they should be paying.

Our dear friend of many years, agriculture, has been given little support and is now reduced to bowing to the dictates of Tesco. What, when and how much you will be paid is what the growers who are left have to tolerate, surviving only by operating as members of a combine.

Oh, how I remember the hundreds of spud lorries lined up along the Esplanade waiting their turn to go through the Weighbridge and down to the waiting ships.

What I find so tragic is that the very worst of anti-Jersey decisions have not been implemented by some foreign force trying to ruin this beautiful unique Island, but by Jersey people, which is what so often happens when things go rotten from inside, as with the great powers of history Egypt, Greece and Rome, and recently with Communism.

We need to form a think tank quickly to decide what we want to do for Jersey, what direction we need to take, and how we are to achieve it. It has to be done now, without a lot of power struggling or vested interest. Am I suggesting too much?

Herald Scotland, October 17, 2010

By Colin Donald

Employers organisation CBI Scotland has put itself at odds with the Church of Scotland and Christian Aid by raising doubts as to the effectiveness of a new campaign against international tax avoidance and evasion.

The Church is set to make a rare intervention into the world of international accountancy when it throws its moral weight behind a hard-hitting campaign against the billions lost by developing countries via tax evasion and avoidance.

Read more…

Jersey Evening Post 25.8.2010

Warning from finance

The finance industry has warned against

making significant changes to the Island's

current business tax regime. A survey of the

heads of 50 businesses reveals that 65%

think that a change to the zero-ten tax regime

would have an adverse effect on Jersey's status

as an International finance centre. Four out of

ten believe that moving from the zero-ten regime

would have a negative effect on their company.

Full report to follow.

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Turkeys vote against Christmas again.

Dear Editor,

What a ridiculous statement from the finance industry in tonight's edition headed 'Warning from Finance'.

The warning is against making significant changes to the current Island's business tax regime which is based on the ridiculous and

EU-unpopular 0/10 system, which allows off Island registered companies like Normans, L'Horizon, The Grand, The Radisson, Burtons, Boots, British Home Stores to name but a few who are making money in competition with Jersey companies to pay exactly 0% tax, whilst the shrinking finance industry only has to pay 10%. Of course they do not wish to change such a money-making arrangment. It's 'Turkeys voting against Christmas' again but they omit to mention the big negative, that this brainwave has plunged Jersey into a £100 million debt!

Well, blame the so-called recession and divert interest from 0/10. In any case, just introduce jolly old GST (Goods and Services Tax) and make it up from robbing the people, especially all those who can least afford yet more expense. If you are rich then 3,5,10,15% GST makes not a jot of difference.

Spin the message that if 0/10 is interfered with some companies might be inclined to leave!! But where to? And, if they are not paying any tax now, then what difference would it make if they left? If, say, 30% left who were paying no tax, then 70% would now be paying tax, and the self-induced so-called black hole would not be necessary! Oh dear, is this too simple?

Yours faithfully,

John Heys

TonyTheProf said... (subject: farm shops)

See also:

http://tonymusings.blogspot.com/2010/08/in-praise-of-farm-shops.html

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August 23, 2010 9:21 AM

Pat Lucas said... (subject: farm shops)

Local farm shops will be paying local tax unlike some supermarkets. That is important and very much to their credit. However, tax is not the real issue here.
The issue is that local produce is sold to local people - with no air miles, maximum freshness and minimum waste. We often buy local and frequent farm shops whenever possible. Excellent stuff!
I can’t see a big problem with farmers selling a few other food items for the benefit of their customers. That sounds like good business to me.
Please tell me about this new law going through the States restricting bloggers lobbying on issues. Thank you.

(This comment has been transferred due to an objection towards the original article, but reproduced as it is an interesting comment. Blogmaster) Its not that bloggers will be restricted against lobbying - but that the so called "accredited media" will have more rights than bloggers. Such as the right to record within the States Building including Scrutiny hearings. Anybody who is not "accredited" will not have such rights and it is part of the formula to determine who shall be judged as "accredited" that bloggers "lobby" whereas "accredited" media do not. Yes, it is totally barmy but that is what PPC have dreamed up in a desperate attempt to stifle bloggers and free expression etc. The whole crazy scheme can be found in P100 (Proposition 100) on the States Assembly Web Site - but if you read it don't have nightmares because not even the States of Jersey can be bonkers enough to approve it........ By Anonymous on Jersey evening Post. www.thisisjersey.comComment... on 8/23/10

In Praise of Farmshops

For direct link to Tony the Prof''s article please click below:

http://tonymusings.blogspot.com/2010/08/in-praise-of-farm-shops.html

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reference TJN's correspondence with Colin Powell

To Jersey: more answers please:

for direct link to TJN article please click below:

http://www.taxresearch.org.uk/Blog/2010/08/16/to-jersey-more-answers-please/

Maurice Merhet's article on the subject of banking and entitled Mo's Law

posted below on the 6th of August

is further discussed on the Tax Research UK Blogsite August 10th ,2010,

link:

www.taxresearch.org.uk/Blog

06 August, 2010

Mo’s Law

Maurice Merhet

The banks have proved themselves to be dishonourable.

How? Why? Alternative?

How?

1. By loaning money to people who could not pay it back. Reason – so as to take their

property and make a large profit.

2. By refusing personal loans and suggesting customers use credit cards. The bank then

charges 18% on the overdraft. Not only that – if you are £10,000 over on your credit

card and have paid back £9,900 they still charge you 18% on the full amount. This is

legalised extortion.

Why?

So as the banks can pay themselves large and excessive bonuses. It is we, the public,

who are doing the paying. This makes it very bad for the whole British economy. The

banks are so powerful it is they that rule the economy not the government.

Alternative:

As we own 84% of the Royal Bank of Scotland this is what we do. We pay depositors

2% interest and loan out money at say 10% on secure loans, credit cards on collateral at

12% on a sliding scale. We would not pay bonuses but a fair wage.

This one move would force the banks to do they same which would benefit the whole

economy. They would no longer expect depositors to be satisfied with ½% nor lenders

prepared to pay 15%.

One added advantage – this would free all these very clever but overpaid bankers so that

they could do something useful for society that was not dishonourable.

This is Mo’s Law.

Letter to the Editor of the Jersey Evening Post

2nd August 2010

Where are the expensive failures from?

John Heys

Here we go yet again. Will our overpaid selecting civil servants never learn? Another

wonderful, highly experienced, foreign department director has jacked the job in after

only four years at the Airport.

No reason given is OK, but it would be nice to know why. At least in the prison fiasco,

one could not get on with the Jersey way and one’s wife could not settle here. Can you

imagine not being able to settle in such a beautiful place? What nonsense.

I trust there will be no golden handshakes and that we, as the ever tolerant taxpayers, will

be assured of this.

So now, with egg all over their faces, the selecting bunchwill have a chance to choose a

Jersey boss for the Airport, and henceforth continue to do so.

For goodness sake, wake up! Just look at your expensive failures; tourism, police, prison,

Airport, etc.

Where do they all hail from?

letter to JEP. 23/07/10

Letter to the Editor of the Jersey Evening Post

23^rd July 2010

Why do the States favour non-resident companies on tax

while still pretending Jersey is not a tax haven?

Pat Lucas

I would like to congratulate John Clennett, former Treasurer to the States of Jersey, for his excellent Letter to the Editor dated 16.7.2010, in which he explores the root causes of Jersey's fiscal black hole. By pointing out the correlation between the projected deficit exceeding £64 million for 2010 and similar amounts for the following two years with the implementation of Zero-Ten it is perfectly obvious that our economy is in this deplorable mess as a direct result of Zero-Ten.

As far back as May 2005 Richard Murphy of Tax Research UK and adviser to the Tax Justice Network warned in a report prepared for the States of Jersey that this huge deficit would occur if our government pursued the Zero-Ten option. At the time he said the new laws underpinning Zero-Ten "...do not appear to meet the requirements of that Code (the EU Code of Conduct) and might also breach some other EU requirements." The States of Jersey ignored the warning and now, 5 years on, the Treasury Minister tries to blame the global recession for our predicament.

The global recession is not the reason why a Goods and Services Tax was introduced. Neither is it the reason why our Government wants to hike up the rate of GST to 5%. These measures are necessary because the European Union has expressed its concern that the details of the Zero-Ten policy continue to contravene their attempts to remove harmful tax practices. As Mr Murphy advised in 2005 "...this law (the zero-ten policy) reproduces the ring fence that exists under existing Jersey tax law which has largely ensured that only companies owned by Jersey residents have been taxed whilst companies owned by those who were not resident have, in the main, not been taxed. As such this provision contravenes section B2 of the Code."

Mr Murphy also made it clear that "The new 10% tax on the profits of financial services companies is in contravention of sections B1, B2, B3 and B5 of the Code"

It is proposed under this law that only finance companies regulated by Jersey Financial Services will be charged at 10% unless those companies are undertaken through Special Purpose Vehicles. To date those are mainly companies understood to be operating in the financial services but which:-

"(a). are not owned by Jersey residents;

(b). supply services within Jersey but for the benefit of persons not
resident in Jersey;

(c). undertake a very limited range of transactions for which they are
specifically incorporated, each of which may have little or no
economic substance within Jersey despite taking place there;

(d). are deemed not to be resident in Jersey despite meeting all the
normal tests for being so including being incorporated there, holding
all their directors' meetings there and undertaking all their
commercial transactions there."

Why do the States persist in giving favourable tax treatment to non-resident companies while still trying to pretend that Jersey is not a tax haven? Who benefits from this Zero-Ten legislation? Why have warnings about its acceptability to the EU been consistently ignored? Why have those who have tried to advise Jersey to opt for fairer and more sustainable tax options been referred to as "not friends of Jersey"?

In 2005 we were advised that:-

Individually and in combination these factors ensure that the new law
will fail tests B1, B2 and B3 of the Code. The discretion granted to
the JFSC to deem any activity undertaken by an SPV ensures that
the new law will also fail test B5 of the Code.

It's time to wake up Jersey! Let's take heed of what is happening and stop kidding ourselves. Our deficit is a consequence of the choice taken to adopt the Zero-Ten policy. So much easier, isn't it, to blame the global recession than to face up to the fact that our present tax system is not only grossly unfair but, for that very reason, is most unlikely to meet the requirements of the EU Code of Conduct.

Another sticky topic which our government seems reluctant to face up to.

DESPERATELY SEEKING PLAN 'B'

Working paper from the Kent Business School

by John Christensen and Mark Hampton

link:

http://taxjustice.blogspot.com/2010/07/desperately-seeking-plan-b-what-are.html

(due to technical reasons I have had to post this comment as an article,blogmaster . 13.07.2010)

Anonymous said...

Clearly Jersey does not have a functioning democracy and this was shown at the recent by election for Senator. About 15,000 people voted; of these about ten thousand voted for the Establishment, and “elected” Le Gresley, whilst five thousand voted for the “progressives”. The level of abstention says it all; 75% of the electorate did not vote. That is not a functioning democracy and those elected under such a system cannot really claim very much legitimacy. That 40,000 did not vote is a sad indictment of the system.

Did they all not vote because they are basically content with their lot and with the existing political set up? I would argue that there is a great deal of cynicism about government and although there is a desire for something better, they do not know how it can be achieved. Many have given up waiting for change; others have simply been ground down by a political machine that resists reform and modernization.

The essential reason is that capital, in the form of the finance industry, has captured the island economically and politically. But, you say Banks don’t have votes. However Banks don’t need votes when they own politicians. Jersey, you see is a Bank; and Banks are not democratic institutions. Capital has no need for any other form of government than that which already exists. It functions quite adequately; prioritising the interests of finance at all times. Thus new innovative legislation favouring finance comes through without dissent – protected cell companies; egaming etc. The latter was sold with the official propaganda that in its wake would follow higher speed internet connections for average joe. Meanwhile social legislation struggles. Indeed legislation on discrimination has just been axed as part of the initial 2% cuts. Is much dissent heard about that “cut” amongst the clamour for saving life guards at Havre des Pas and school milk?

Senator Le Gresley was “elected” precisely to prevent candidates who support reform and democratisation from being elected. Ineffective and ultimately loyal, he will pose no challenge to the status quo.

There is hope however. The current proposed cuts are provoking a degree of resistance. The Teachers have led the way, albeit in a tentative fashion. Workers are beginning to recognise their interest as workers and the need to protect their jobs. There is a dawning that the government runs the island exclusively in the interests of wealthy non residents who happen to hide their money in institutions that operate out of the island and whose only loyalty is to those clients and their money.

As the programme of austerity begins to bite there will be a period of fear and uncertainty; then resistance will begin. The government is unaccustomed to direct class warfare. To date it has been possible to buy social harmony with economic prosperity. Now there is an assault on public services with plans for cuts, motivated in part from a genuine deficit, but more so from ideology. The government serves the interests of the wealthy and will not raise taxes on its natural supports. It is obliged by virtue of its commitment to running a low tax regime, to keeping corporation taxes low. So low that the state is unable to raise the money it needs to provide essential public services for the ordinary citizen. The government is prepared to sacrifice the interest of working people to keep the finance industry in a low tax environment.

From: PAT LUCAS 11.07.2010

IN REPLY TO 'ANONYMOUS' 07 JULY, 2020

First, I must point out that Attac is not a political party. Neither is the Tax Justice Network of which Attac Jersey is a member.

These are two non-governmental organisations with distinct brands of their own and whose aims are to research, educate and campaign to further public awareness. Both seek to alleviate poverty through the creation of just taxation systems to fund social goods.

As may be expected we favour certain political philosophies, politicians and parties more than others and are prepared to help them. This is democracy at work. But we are not a party so please do not lump us all together. It’s unfair to all concerned.

In response to the last posting I agree that if we look at the numbers of votes in the recent election Jersey does have a democratically elected government and Francis le Gresley easily topped the polls. No doubt about that. Well done Senator le Gresley.

However, I disagree entirely with the statement that, “…there just aren’t as many unhappy people as (we?) seem to enjoy believing there are?” I wish to make it quite clear that I do not assume that only happy people vote in elections. And I certainly do not relish the unhappiness of others. What we need to find out is who is unhappy and why they’re unhappy about the way Jersey is governed at present. That might give us a big clue as to why so few people vote in elections.

You speak of this environment of spending cuts, rising unemployment, rising taxes and a supposedly growing level of dissatisfaction with the present government structure.

Convinced that they are not heard by the “Very Important Ruling Party” many have stopped voting after years of trying to have their voices heard. They’ve seen their Island taken from them, large parts have been covered in concrete, the tax avoidance industry has taken over from tourism and agriculture and other ventures which might have been given a chance to flourish but have been stifled under the lead weight of finance. Some simply cannot understand how our government works, who to be wary of and who to trust.

At election time there are a few opportunities to listen to the candidates. Anyone can go along to the hustings; some can ask questions, others don’t get a word in either because of lack of time or because they’re not used to speaking up in public. Others can’t do much at all for reasons of their own. After the hustings and the elections there’s usually a decent write-up in the JEP about it. Good. Quite good. But a lot more needs to be done if we are to enjoy the democracy so many deserve.

Why not help people to understand by running programmes on Channel TV and Radio Jersey as a matter of course? The individual candidates and parties might enjoy setting out their stalls during the time leading up to elections. Why not have greater audience participation? We need ongoing debates all year round so that people can hear various sides of the arguments, ask questions and learn as much as they wish to learn in their homes as well as outside. Don’t let’s jump to the conclusion that people would find this boring. It’s up to all of us to make it lively, relevant and interesting and open.

We need more honesty and openness if people are to believe what is said. Surely this is democracy in action?

They wonder why they have to pay tax and why our Jersey businesses have to pay tax to keep the Island going while finance, national and international businesses pay little and, in some cases, nothing at all. They wonder why they are getting poorer and risk losing their jobs while those who have thrown away so much of our Island’s money on mistakes and useless projects are doing very nicely thank you.

You say that the petty bickering among some of the politicians does nothing to inspire the population with confidence. I totally agree with you. We need debate, discussion and relevant research. We don’t want inappropriate bickering.

As for coming up with policies to replace our main source of income I must draw your attention back to our blogsite to Plan B for Jersey

To quote Richard Murphy, “never again can it be said we have not delivered an alternative. Because we have.It is radical. But it has Jersey’s strengths at its core, exploitation of a new market as its focus and it is consistent with the state of Jersey finance as it says it is”

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JERSEY IS NOT A GOOD NEIGHBOUR

From Tax Research UK www.taxresearch.org.uk/Blog

Jersey is not a good neighbour

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PLAN 'B' FOR JERSEY

Date: Sun, 4 Jul 2010 21:32:42 +0100
From: richard_murphy@btconnect.com
To: intertax@listen.attac.de
Subject: [Intertax] Plan B for Jersey (or any other secrecy jurisdiction you care to name)

Jersey has just launched a public consultation on the future of its tax system

I have written a submission but show that at the heart of Jersey's problems is the fact that it remains a secrecy jurisdiction - and their market is dying

So I have written a new industrial strategy for Jersey - which is radical and transformative and could make them a lot of money. I have challenged them to become the MOST transparent jurisdiction in the world - the place where honest people will choose to do business because everything will be on public record

They say they have nothing to hide. Plan B says in that case you've nothing to lose and everything to gain by going for transparency.

Until now Jersey was not ready for Plan B - it's crisis was not big enough for it to embrace change.

Now it is - the deficit I forecast five years ago is overwhelming them.

but never again can it be said we have not delivered an alternative. Because we have.

It is radical. But it has Jersey’s strengths at its core, exploitation of a new market as its focus and it is consistent with the state of Jersey finance as it says it is

The only possible reason for not doing it is Jersey’s finance centre really does not do what it says it does,,,, But that’s another issue

Plan B is here http://www.taxresearch.org.uk/Blog/2010/07/04/plan-b-for-jersey/

Best regards

Richard

Director

Tax Research LLP

The Old Orchard

Bexwell Road

Downham Market

Norfolk PE38 9LJ

United Kingdom

+44 (0) 1366 383500

+44 (0) 777 552 1797

skype: richardmurphy1572

The Allies

Pat Lucas

When I look at our Jersey Government I see that, apart from a couple of exceptions, the "Council of Ministers" at the top of the States Assembly and those with power, wealth and influence who work closely with them to run this Island stand shoulder to shoulder with one another like a solid wall of steel. They rarely listen to anything of importance ordinary residents of Jersey have to say. They make a show of asking our opinion on certain issues but most of us know that we count for little or nothing in their scheme of things. They see themselves as the Extremely Important Ruling Party. Anyone who dares to contradict this “absolute truth” runs the serious risk of being ridiculed, rubbished or discredited.

Please tell me why most of you ignore the needs of our people who struggle to keep pace with the high prices of property, rents and goods and services? And now you want to hike up the Goods and Services Tax to 5%. What are you trying to do to our people? Introduce a fair Corporation Tax onto UK and foreign Companies so that they pay the same rate of tax as our Jersey companies have to pay. That should bring in enough to be going along with for a while! Are you afraid they might leave? Don’t be. Have the courage of your convictions. That’s what we want. Why do you close your ears and your minds when our people ask you to stop covering large parts of our Island including the Waterfront with concrete eyesores. We love our beautiful Island and it breaks our hearts to see it ruined a bit more day after day. And why can’t you see that the over expensive, and possibly highly dangerous, new incinerator being built at La Colette was not what most of us wanted? We tried hard enough to let you know. Again we were ignored.

Don’t talk down to us. As I pointed out in an earlier blog, we are not stupid. We see the unfairness and the gross injustices inflicted on this Island and its people and we would appreciate a few straight answers please. Don’t take what I’m saying too personally. I want answers to my questions because right now you are in positions of power but it’s not about you as individuals. It’s about our Island. Our whole system of Government is a mess. It doesn’t work, it’s not going to work and needs changing as a matter of urgency. Perhaps taking another look at “Clothier” might help.

We need a complete overhaul of Jersey’s Government. Meanwhile, until that happens, those who are elected to represent us still have to work in it. For this reason I have the utmost respect for those people - the States Members who are aware of what is happening to Jersey, try to change it for the better, look after their constituents and battle on year in year out for democracy, fairness and justice for the rest of us. It amazes me how they have the strength and the heart to go on sometimes. I must emphasise here that I’m not referring to a particular Party. I’m talking about a sizeable group of politicians who regularly speak up for the rest of us in the States Chamber. Believe me. Such men and women do exist and they need our support. To clarify my point I’ll call them “the Allies”.

I am appealing to “the Allies” to look for a way of working together much more closely than you are doing at present. Perhaps the ideal way would be to form yourselves into one single, strong, highly disciplined Party allowing for just a few Independents who support you whenever they feel they can. That would be the basis for an honourable Opposition – goodness knows we need one if you want to penetrate that wall of steel without knocking yourselves out entirely.

If you can’t or are not prepared at this stage to form a strong Opposition Party then, above all, please recognise and thrash out your grievances in private and then put them aside. I’m not asking you to put on one another’s uniforms or become little clones of one another. That’s not what I’m saying at all. I’m asking you to stand shoulder to shoulder with your colleagues whenever you possibly can. You really have to present a solid, strong united front or risk being far less effective than you could be. Together you will be strong. That is what so many of us are expecting from you. Please do this for us.

As for the rest of us – the ordinary people of Jersey - I believe we must do much more to support those States Members who work on our behalf. We could at least find out more about what each candidate stands for and get out there and vote at election time if we haven’t so far. Some of them have really put themselves out in their own time and at their own expense for individuals in their constituencies and those people still didn’t bother to vote. How would that make us feel if the boot was on the other foot!

We could also put forward our views and suggestions or send them a message once in a while. We won’t always agree with what they do or say. So let’s tell them what we want. Phone them up, e-mail them, take an interest in what is going on in our Island, learn all we can. United and working together with us we will be strong. More than that we might even open our eyes and see that these politicians are made of flesh and blood like we are. OK so they’re paid to do a job. I get paid for my job too but that doesn’t mean I don’t need a nudge in the right direction or a kind word sometimes. I respond well to that sort of treatment. So do we all. That can’t be asking too much can it?

Denise Carroll said...

Can I change the topic of conversation and ask you to reflect for a moment on events especially over the last week here in Jersey. We have two so called parties Time for Change and the JDA who seem to be singing from the same hymn sheet but are currently so busy bickering between themselves that they seem to have lost sight of the fact that whilst this is happening the establishment are able to do what they want. The establishment are no doubt sitting laughing and working out which candidate they will place where in the next election.
The chances are that unless somebody locks these two parties, pretty damn quickly, in a room until they have sorted out their differences and can act like statesmen none of them deserve to be in government.

Neither party will succeed in anything until they can prove to the public they are worthy once again.

June 21, 2010 10:00 PM

Time for Jersey to discuss Plan B?

John Heys

June 18^th 2010

In Jersey we are constantly told that we cannot survive without the Tax Avoidance Industry. Without them we’re warned that we’ll suffer from unemployment, increased crime and a collapse in house values so how could we possibly entertain the hope that they might leave?

As Pat Lucas has said elsewhere, “…undesirable though these problems are the real problem is not primarily crime or unemployment or rising house prices or any of the other evils which may befall us. The root of the problem here is tax avoidance and corruption. It’s that which we need to get rid of.

Now, please don’t talk down to us or say we don’t understand anything because we do. When the tax avoidance industry leaves Jersey - and it will- we’ll need to completely restructure our economy with professional advice from our friends and colleagues.”

Even now huge money-making vested interests do not want to acknowledge the demise of the self-centered finance industry. They even have the gall to hotly deny that the set-up is not a tax haven!

Of course it is a tax haven which has ruined this once beautiful Island with sheer greed, avarice and concrete. Now with 0/10 we the people are paying the tax the Finance Industry should be paying. Particularly since finance has been the dominant industry here the price of housing has risen well beyond our children’s reach at £470,000 for a basic 3 bedroom starter home. Many in the business are from the UK and will, when they’re ready, simply leave having had a great time and having built up a healthy bank account. Already much of the backroom work has been hived out to places where labour costs are less.

Certainly it will be difficult for those remaining when it all goes. Along with others I have been calling on our Government for years to diversify in preparation for the inevitable, only to be sniggered at by Chief Minister Le Sueur and his cronies.

So what do we have? Two other industries - Tourism and Agriculture which have been allowed to shrink to about 3% and 1% of our GDP. This in itself is a disgrace while at the same time the States of Jersey have pumped millions of pounds into the finance industry - and remember this is a private industry.

We need to take another look at Tourism and offer the kinds of holidays that people really want to enjoy. Walking around our beautiful cliffs, horse riding, nature study, learning more about the Island’s history, enjoying delicious local produce – these are the things that many visitors enjoy, savouring the unique quality of life of each location. Reading this you would imagine that Jersey would generate some income from Tourism but there is a problem.

The way the Tourism Industry is structured at the moment means that Jersey makes a mere pittance. The airlines which bring visitors here make money for the UK; the hotels which are mainly UK owned reap all the profits. Again the money goes to the UK. Due to the Chief Minister’s policy on taxation of 0% corporation tax UK owned businesses do not pay tax in the Island. As a result most of the profits made in the High Street go straight to the UK as well.

To remedy this situation we need radical political change. Party politics seems to be the only way to go. We need a General Election and a clean sweep to start again. Our Island must look to the EU and the UK for help so that we can start afresh. The longer we are persuaded that the so-called finance industry is the Holy Cow the less time we have to prepare for the inevitable crunch.

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