Economic Development Strategy – Consultation launched

Friday 12 October 2012

Today (Thursday 11th October 2012) sees the launch of the consultation phase of working towards an Economic Development Strategy for Guernsey. Stakeholders are urged to take the time to complete the survey in order to help shape the future direction of the Island’s business landscape.

In March, the Policy Council’s Fiscal and Economic Policy Group (FEPG), in partnership with the
Commerce and Employment Department, published the Oxford Economics Report which informed, but did not dictate, on issues surrounding the potential development of a draft Economic Development Strategy for Guernsey.

Deputy Kevin Stewart, Minister, Commerce and Employment Department said: “The primary objective is to ensure that Guernsey remains competitive and successful. We need to ensure that we are maximising the benefits for our existing industries and businesses, as well as identify new opportunities and economic work streams. This is fundamental to the Island’s mid- to long-term prosperity. Commerce and Employment will value and consider all submissions, so please do complete the online survey form”.

Stakeholder groups, members of the business community, States Members and the general public are invited to respond and provide their feedback and ideas. The consultation document, original report and survey form can be found at www.gov.gg. The deadline for submissions is Friday 9th November. Over the coming weeks, Commerce and Employment will also be facilitating a series of workshops for industry representatives to work through key issues and themes. Places have been offered to a limited number of members from local business stakeholder groups.

Deputy Kevin Stewart continued: “As we move forward, we must continue to grow our business relationships with industry. Guernsey needs to ensure clarity on where we are heading and how we intend to achieve this within the context of the resources we have available to us.”

A draft Guernsey Economic Development Strategy will be formulated by the Commerce & Employment Board and the States of Guernsey Fiscal and Economic Policy Group in due course. The strategy will then be reviewed by the Policy Council, and once approved it will be used to inform the development of the States Strategic Plan in 2013. In due course there will also be a separate Finance Development Strategy which will dovetail into the “umbrella” Economic Development Strategy.