Financial prudence

By Sir Philip Bailhache

The Jersey Liberal Conservatives are sometimes asked what differentiates them from the Alliance Party which is, in some respects, synonymous with the current Government. One answer is that the JLC is committed to financial prudence. By contrast, the Alliance Party has an attitude to spending and borrowing which is very different. For centuries Jersey has not had a national debt. The Island has paid its way and been proud of that independence from any creditor. The so-called Debt Framework lodged by the Treasury Minister, (a member of Alliance) on 10 August 2021 reveals that that proud history is coming to an end. Jersey is going to become for the first time a debtor nation.

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