23 November 2010

Jersey Finance - Playing Devil's Advocate

The 'success' of the Jersey economy over the years has traditionally been put down to several factors (by success, of course, we mean the high cost of living of food, drink, utility bills, high house prices, high rentals, sub-standard non-quals housing and the prospect of increased GST):
  • The sacrosanct and stable 20% tax rate (or much less if you are really wealthy)
  • Political Stability (electing docile 'noddy' dogs who will not rock the boat)
  • Years of Prudent Budgeting (Including investing in child welfare, hedging the Euro for the incinerator; the incinerator, the 'Cavern', and paying for the permanent modern art scaffolding installation to St James' Church)
But now it seems that there is one other much more important reason for Jersey's economic success, as revealed on the Jersey Finance website, namely that we have a legion of very powerful, sinister friends. The last paragraph quotes James Hines from the STEP Report 2009:

"International Financial Centres promote good government and the benefits that flow from demoncratic accountability. The evidence indicates that by far the most successful international financial centres are those whose governments score highly on the World Bank's indicators of governance quality."  

Now let's see how long it takes the well connected folk at Jersey Finance to pick up on their typo. The devil forbid that any God-fearing prospective clients pick up on this error lest they be put off from bringing their hard earned investments to these satanic shores!


  1. I note they have also made the inaccurate claim that:

    'Following a review of Jersey’s structure of Government, the ’Clothier Review’, the States of Jersey implemented the Report’s recommendations in December 2005, thereby enabling the Island to benefit from a more efficient legislative process within the stability of its historical grounding.'

    No, it recommended SOME of the recommendations, but ignored many of the more democratic elements.

  2. For some of us the marginal tax rate is 27%
    Also people generally seem to be unaware of this

  3. mr tadier
    are you going to put in a vote of no confidence in tls a simple yes or no will do

  4. Montfort.

    A little off topic so I apologize. But you mentioned the words "demoncratic accountability".

    Here's where I'm at. The Chief Executive Officer of our Education Department has, via some of the local "accredited" media, been (YET AGAIN) mentioned in a court case by a number of witnesses for his involvement in alleged child brutality and remains in post.

    The Education Scrutiny Panel, today, publish a Press Release telling everybody about dog sh-t on the beaches.

    If Scrutiny want to start being taken seriously then they have to start behaving/acting seriously. I don't doubt that dog sh-t is an important subject to some people but I would hazard a guess that the latest revelations of the Chief Executive Officer are far more important and worrying.

    Perhaps you will publish a Blog outlining how Scrutiny are going to deal with these frightening revelations in order to assure us parents that we have nothing to worry about. The Education Minister, Deputy James Reed (and your Scrutiny Panel) have said, or done NOTHING to re-assure any parents.

    "demoncratic accountability".........sounds like dog sh-t to me!

  5. That is amusing though on finance in general, what would you prefer us to do Deputy, go back to growing Tomatoes?

  6. Well, whatever we do, I would hope that an industry to which taxpayers pay hundreds of thousands a year would have a thorough proofread of their website.

  7. Demoncratic - sounds like one of those words in Ambrose Bierce's Devil's Dictionary!

    Demoncratic - system of government where the votes put in people who do exactly what they want, and there is the devil to pay at the next election.

  8. mr tadier

    a little yes or no two much for you to answer?

  9. That was quick; they have corrected the error. I wonder if they will also change the part about implementing the recommendations of the Clothier Report

  10. Martin,
    A vote of no confidence in TLS would be an exercise in futility, as the figures don’t stack up.
    Worse still, as everyone knows this to be the case, except you apaz, it would be seen as yet more Southernesque, selfagrandising time wasting and totally counter-productive. He goes in a year anyway, Allah be praised.
    Do the math mate, or try to learn to count.

  11. anon i can do both and i know he gose in a year but that dose not mean he goes easy why not let him know how bad he is and as for allah he can go with him