Are deepened economic relationships with both EU and the UK possible?
Ahead of a Parliamentary event, Jersey Finance explains how new research is leading them to face the political and financial landscape with confidence.
At Jersey Finance, we believe that independent, evidence-based research helps strengthen Jersey’s position on the international stage, it embeds our key messages in the minds of current and potential investors and highlights the merits of Jersey as an international finance centre.
Our library of such research shows how Jersey facilitates flows of capital around the world and demonstrates the value to the global economy of international financial centers like ours. The latest research by Capital Economics evaluates the economic, financial and fiscal linkages between Jersey and Britain, as well as Jersey and mainland Europe. It finds that the jurisdiction is of overwhelming net positive value to both the UK and Europe, providing vital liquidity and inward investment to these economies, while supporting tens of thousands of jobs across the region.
The reports also look closely at Jersey’s leadership role in international developments to improve financial transparency and clamp down on criminal activities such as tax evasion. Jersey has long-standing legislation to tackle money laundering and financial crime and is judged by the IMF and OECD as being one of the best regulated jurisdictions in the world. In fact, a recent report from MONEYVAL, the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, reviewed certain aspects of Jersey’s institutional, legislative and regulatory framework and found that of the 49 assessment areas, Jersey was rated compliant or largely compliant in 48, placing it in the top tier of jurisdictions assessed under those criteria.
As the political and financial landscape evolves, Jersey is looking with confidence to the future and will continue to broaden and deepen its relationships with both economies. These latest reports reaffirm the value that Jersey, the international finance centre plays and the significant value it adds, not just to the global economy, but also to the finance industry’s transparency agenda.
If you would like to hear more about the key findings in these reports we would be delighted if you could join us on Wednesday 19 October for a roundtable discussion and reception in Parliament – for further details please email.
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