Jersey Chamber of Commerce reaction to UK hung parliament.

Friday 9 June 08:28

During this period of uncertainty, which a hung parliament produces, the Jersey Chamber of Commerce would call upon the island’s government to maintain open communication with their UK counterparts while a new government is formed.

During this period of uncertainty, which a hung parliament produces, the Jersey Chamber of Commerce would call upon the island’s government to maintain open communication with their UK counterparts while a new government is formed.

President of the Jersey Chamber of Commerce, Eliot Lincoln, said: “The speedy formation of a UK government is something that would enable Jersey’s External Relations team to continue Brexit discussions on behalf of the island and business community.”

“We have been closely monitoring Brexit developments over the last twelve months, as new trade deals, tariffs and the free movement of people have been debated during early stage discussions. These are all proposals that could have a considerable impact on island businesses. It is, therefore, imperative that once a UK government is formed, Jersey’s Chief Minister engages in immediate and regular talks, to ensure that Jersey is at the forefront of UK EU Brexit negotiations.”

“Whilst Brexit offers many positive commerce opportunities for Jersey, it is impossible to think the island can avoid any negative impact. There is no doubt the overall fall in the value of the pound post-Brexit and the overnight rocky market reaction to the hung parliament, will continue to impact the cost of importing goods into the island, which businesses cannot continually absorb. Inflationary costs will inevitably be passed onto the consumer, which is not good for islanders or local businesses looking to compete on a local, national and international stage.”

“A partnership between the Conservatives and the DUP (Democratic Unionist Party) if agreed, may pave the way for a softer Brexit deal, especially on issues such as the free movement of people. Continued access to the European workforce talent pool, will maintain recruitment flexibility for Jersey businesses.”  

Like the UK, Jersey too will be heading to the polls in twelve months for its own general election and in order for the island to continue to prosper, we must have a stable government. A government that is pro-business, supports flexible employment legislation that will help organisations to grow and vitally, provides infrastructure that is an enabler of innovation. Moreover, a government that actively engages with younger voters, which has played a major part in the overall election result.

The Jersey Chamber of Commerce would strongly urge our government to ensure engagement with the business community, across all demographics is prioritised.  

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