- published: 03 Apr 2016
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The economy of Jersey is largely driven by international financial services and legal services, which accounted for 40.5% of total GVA in 2010. Other sectors include construction, retail, agriculture, tourism and telecommunications.
In 2008 Jersey’s gross national income per capita was among the highest in the world.
In 2011 the island's economy, as measured by GVA, declined by 1% to £3.6 billion.
Jersey based financial organisations provide services to customers worldwide. In June 2008 it was reported that 12,070 people were employed full-time, within this sector. The Royal Bank of Scotland International (RBSI) is a major employer with some 900 staff employed in Jersey, as of March 2009.
The finance sector profits rose to about £1.5 billion in 2007, representing a real-term increase of 12% on 2006.
Jersey is one of the top worldwide Offshore financial centers It is described by some as a tax haven. It attracts deposits from customers outside of the island, seeking the advantages such places offer, like reduced tax burdens. Its taxation laws have been widely criticised by various people and groups, however the former Chief Minister of Jersey, Terry Le Sueur, has countered these criticisms, saying that "Jersey [is] among cooperative finance centres". And in September 2013 the UK Prime Minister, David Cameron, said it was not fair any longer to refer to any of the overseas territories or Crown dependencies as tax havens, as they have taken action to make sure that they have fair and open tax systems.House of Commons Hansard 9 Sept 2013 Its information privacy law also provides exemptions that other European countries do not, for example in the way Trusts do not have to disclose as much information to Benficiaries about use of their personal data as is normally required under such laws.
Jersey (/ˈdʒɜːrzi/, French: [ʒɛʁzɛ]; Jèrriais: Jèrri [ʒɛri]), officially the Bailiwick of Jersey (French: Bailliage de Jersey; Jèrriais: Bailliage dé Jèrri), is a Crown dependency of the United Kingdom, a possession of the Crown in right of Jersey, off the coast of Normandy, France. The bailiwick consists of the island of Jersey, along with surrounding uninhabited islands and rocks collectively named Les Dirouilles, Les Écréhous, Les Minquiers, Les Pierres de Lecq, and other reefs. Jersey was part of the Duchy of Normandy, whose dukes went on to become kings of England from 1066. After Normandy was lost by the kings of England in the thirteenth century, and the ducal title surrendered to France, Jersey and the other Channel Islands remained attached to the English crown.
Jersey is a self-governing parliamentary democracy under a constitutional monarchy, with its own financial, legal and judicial systems, and the power of self-determination.
The island of Jersey is the largest of the Channel Islands. Although the Bailiwicks of Jersey and Guernsey are often referred to collectively as the Channel Islands, the "Channel Islands" are not a constitutional or political unit. Jersey has a separate relationship to its Crown from the other Crown dependencies of Guernsey and the Isle of Man, although all three Crowns are held by the monarch of the United Kingdom. It is not part of the United Kingdom, and has an international identity separate from that of the UK, but the United Kingdom is constitutionally responsible for the defence of Jersey. The Commission have confirmed in a written reply to the European Parliament in 2003 that Jersey is within the Union as a European Territory for whose external relationships the United Kingdom is responsible. Jersey is not fully part of the European Union but has a special relationship with it, notably being treated as within the European Community for the purposes of free trade in goods.
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'Jersey: Royal Island' is a part of a series of events to mark The Queen's Diamond Jubilee. The film features footage from Jersey's past, the creation of the portrait 'Equanimity', by artist Chris Levine and holographer Rob Munday, and the production of the £100 commemorative note. It also provides a detailed snapshot of the Island's history, relationship to the Crown, scenery and its key industries.
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The Statewide Hispanic Chamber of Commerce of New Jersey Presented our second edition of the Latino Rebels Town Hall Mixers. We discuss the economic issues affecting the Latino community. MODERATOR: Julio Ricardo Varela, Futuro Media Group (NPR's Latino USA) and Founder of Latino Rebels PANELISTS: Hon. Wilda Díaz, Mayor of the City of Perth Amboy; Lili Gil Valletta: Award-winning entrepreneur, World Economic Forum YGL, TV contributor and President of XL Alliance; Carlos Medina, Esq.: President of Robinson Aerial a small mapping and engineering company and Chairman of the Statewide Hispanic Chamber of Commerce of New Jersey. Filmed by, Navon Walters
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This panel brings together a team of experts to explore the importance of an effectively maintained water supply for New Jersey’s economy, the Water Quality Management Plan, and what NJ citizens can do to conserve and protect the water supply. Guests Include: Michele Siekerka, Assistant Commissioner for Water Resource Management at the New Jersey Department of Environmental Protection; Peter Kasaback, Executive Director of New Jersey Future; Jennifer M. Coffey, Policy Director at Stony Brook-Millstone Watershed Association; and Sarah Bluh, VP of Environmental Affairs at the NJ Business and Industry Association. 5/26/12 #2400
The coalition members who sponsored the New Jersey Business Summit in September announce the formation of a grassroots organization called Opportunity New Jersey whose mission is to increase awareness of the impact that policies and legislative action will have on the state’s economy and job growth for New Jersey citizens. Opportunity New Jersey will use grassroots outreach to inform policymakers and the public about how proposals out of Trenton will impact the state economy. The 501(c)(4) organization will raise the donations from individuals, businesses and organizations. To learn more, visit http://www.OpportunityNJ.org
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Fred Smith and Bob Pollin debate a proposal for a massive investment in the production of clean energy
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Pedro Pablo Kuczynski: Latin America in the Changing Global Economy On October 28, 2008, Pedro-Pablo Kuczynski, one of the most renowned economic policymakers in Latin America, spoke on “Latin America in the Changing Global Economy” at UW-Madison. Some topics: washington consensus, john williamson, economic development definition, consensus meaning. Materials with copyright have been adapted and are licensed under the license CC BY http://creativecommons.org/licenses/by/3.0/, 'Pedro-Pablo Kuczynski: Latin America in the Changing Global Economy', by UW-Madison International Studies, on line on https://vimeo.com/4186803. Subscribe via: www.youtube.com/alainderaymond More information: internationalstudies.wordpress.com/2008/10/21/pedro-pablo-kuczynski-latin-america-and-the-current-financi...
Eric Schmidt speaks at a forum jointly hosted by Google and the Pittsburgh Technology Council on September 23, 2009 in Pittsburgh, PA.