{"id":19006,"date":"2013-01-21T16:56:49","date_gmt":"2013-01-21T16:56:49","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=19006"},"modified":"2013-01-21T16:56:49","modified_gmt":"2013-01-21T16:56:49","slug":"lifes-good-for-bankers-in-the-socialist-republic-of-jersey","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/01\/21\/lifes-good-for-bankers-in-the-socialist-republic-of-jersey\/","title":{"rendered":"Life&#8217;s good for bankers in the Socialist Republic of Jersey"},"content":{"rendered":"<p>I noted <a href=\"http:\/\/www.thisisjersey.com\/business\/2013\/01\/21\/jersey-finance-given-4m-to-keep-industry-%E2%80%98competitive%E2%80%99\/\" target=\"_blank\">this report in the Jersey Evening Post today<\/a>:<\/p>\n<div>\n<div>\n<blockquote>\n<div><span style=\"font-size: 13px;\">A decision \u00a0to authorise the largest-ever States grant to Jersey Finance will help ensure the Island remains internationally competitive, according to the organisation\u2019s chief executive Geoff Cook.\u00a0<\/span><span style=\"font-size: 13px;\">Economic Development Minister Alan Maclean signed off the grant of over \u00a34 million last week.<\/span><\/div>\n<\/blockquote>\n<div>Isn't it amazing that those\u00a0bastions\u00a0of free enterprise - the offshore bankers - can only\u00a0survive\u00a0on the basis of state subsidies? If ever there was a case of the poor\u00a0subsiding\u00a0the rich unjustly then this has to be it.<\/div>\n<div><\/div>\n<div>I believe in a government's right to back its industrial policy. But when finance is supposedly so\u00a0successful\u00a0this subsidy has to be a case of economic logic gone mad. Unless, of course, times are tougher\u00a0in\u00a0Jersey than anyone is admitting. In which case I thought these guys believed the market should take its course and the failures should be\u00a0allowed\u00a0to go to the wall?<\/div>\n<div><\/div>\n<div>Either way it looks like the bankers have created the Socialist Republic of Jersey all for their own\u00a0benefit.<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>I noted this report in the Jersey Evening Post today: A decision \u00a0to authorise the largest-ever States grant to Jersey Finance will help ensure the<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/01\/21\/lifes-good-for-bankers-in-the-socialist-republic-of-jersey\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-19006","post","type-post","status-publish","format-standard","hentry","category-jersey"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=19006"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19006\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=19006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=19006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=19006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}