Jersey heading for trouble – and it’s not me saying so

Posted on

Note Jersey's new independent fiscal policy panel has reported for the first time. And I note they've said:

Our analysis of future trends in tax and spending highlight that there is a real risk that States finances could deteriorate significantly in the medium-term and this should be at the forefront of States members' minds when they debate the 2009 Business Plan.

As I've said, and what this cryptically confirms: there's a mighty big black hole awaiting Jersey into which it could topple with the greatest of ease, not least because all its assumptions are built on economic growth, and this panel has confirmed that its economy is slowing down.

Give them five years, then watch them go bust.