Funding Jersey’s future

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Those who are not inclined to the view I and others hold as to Jersey's future sometimes say that we fail to offer an alternative. This is not true. We can't stop the folly of Jersey's reckless policies with regard to tax, or the damage they will cause but TJN / ATTAC, the local organisation with whom I work most closely in Jersey certainly has more to do than comment to the FT.

Take this proposal put by Chris Steel of TJN / ATTAC Jersey which was submitted to the States of Jersey in a public hearing in February and on which I've been pleased to assist Chris based on work I have done elsewhere on bonds.

I've already discussed here the positive role that bond finance could play in Jersey - but so enlightened is the government of this financial centre that it thinks that borrowing money is a sin. Of course, that helps the objective of loading the tax burden onto the poorest in society and it helps promote privatisation, but as a fiscal strategy it makes no sense at all.

I do hope they'll take note. Others are. Remember, some of my work was done for Policy Exchange, David Cameron's favourite think-tank.