Jersey’s economy is to get a boost from the States worth more than £40 million next year to help dispel the current gloom.
States spending on construction projects is likely to total around £80 million as the £37 million in capital spending has already been approved.
Treasury minister Philip Ozouf wants to press ahead with the extra capital projects to get the economy back on track. He said that, thanks to the relatively healthy state of public finances, Jersey could afford to embark on another round of fiscal stimulus projects.
The 2012 works are likely to include the £20 million redevelopment of Green Street car park into a new headquarters for the police.
Other projects in the pipeline include improvements to the St Helier flooding prevention scheme , increased spending on new technology projects and attracting e-commerce business to the island.
Ozouf made the announcements as new figures showed that unemployment figures have risen again, as inflation has hit 5.4 per cent and as the financial experts who review Jersey’s economic strategy warned of tougher times ahead.
The Fiscal Policy Panel members have said that the States needs to plan on the basis of a more fragile and drawn-out global recovery than previously expected.
The three-person panel also said that Jersey has to avoid making decisions that permanently reduce revenue or increase expenditure.
The treasury minister said that he would announce another round of economic stimulus measures in a statement ahead of the budget at the end of the month.
City Guides
