As a member of the Economic Council I worked closely with the private sector to co-author the ‘New Perspectives’ report on Jersey’s economic future, developing a huge range of new ideas and options to promote entrepreneurship, innovation, and the infrastructure and skills we need to flourish in the coming decades.
The Economic Council – New Perspectives
Although Covid-19 has brought significant challenges for our Island, it has also generated opportunities for us to implement positive change. One such opportunity has been the chance to reflect on Jersey’s economic direction and priorities, and to engage with you – our Island community – on how we can work towards economic recovery and renewal. To ‘Build Back Better’.
I am proud to serve on the Economic Council, which was established by the Government in 2020 in partnership with Industry to stimulate discussion and new ideas in the context of the Covid-19 pandemic, as well as the longer term. The fruit of our labours was the 51-page ‘New Perspectives’ paper – an inspiring framework for our economy, as well as advice and challenge to the Government. The proposals offer fresh perspectives on a number of critical themes that are affecting economies worldwide, with specific focus on what these mean for Jersey.
At the centre of the paper’s strategy is a key policy goal from the Government Plan: ‘We will create a sustainable, vibrant economy and skilled local workforce for the future.’ We aimed to provide a vision of where we want to be in five, ten and even thirty years’ time, and how we can overcome both the imminent and long-term challenges that face our community. We must strive to create an inclusive and prosperous economy that allows us all – people, families and businesses – to fulfil our potential.
The five themes of the paper also reflect my personal manifesto for Jersey’s economy:
- Jersey should stimulate growth by encouraging a more vibrant entrepreneurial culture and enhancing local innovation.
- Sustainability is a huge force in shaping society and economies globally which Jersey needs to place at the centre of its economic policy.
- Jersey must truly embrace the importance of the ‘new economy’, being created globally through technology, artificial intelligence and data.
- For Jersey’s economy to flourish the Island needs regeneration from an infrastructure and quality of life perspective.
- Unless Jersey innovates and aspires to the highest levels in education and skills development across our entire population, our economy will not prosper.