PRESS RELEASE
Press Statement from the President of the Jersey Chamber of Commerce Jennifer Carnegie.
Response to the Government of Jersey announcement of support to businesses
18th March 2020
Following the Minister for Economic Development, Tourism, Sport and Culture’s announcement of a package to support Jersey businesses during the coronavirus outbreak, the Chamber has been inundated with messages from our concerned members and, in several cases, organisations who are not members but wish to have their voice heard. It is on their behalf that Chamber has been asked to respond.
Firstly, we wish to thank Senator Farnham for quantifying the critical nature of the situation facing our island and economy and his commitment to supporting business and not see any fail. He has announced a significant package of economic support, although it has already been identified that much more will be needed. The message that is coming very clearly from our members and non-members is that the crisis is here, right now and is unprecedented in scope. For many, a business loan scheme that won’t be debated in the States Assembly until next week, and as yet has no detail about how vulnerable businesses can access money now, means that otherwise viable businesses will fail and jobs will be lost by six more days of wait. For the Government this means no GST, no Social Security and a major impact on future tax receipts. For our community, friends and families it means worry, stress and hardship.
Chamber has been in regular communication with Government and have passed offers of specialist support from local businesses to help Government protect our economy. Our members are urging that the measures announced today are implemented without delay and additional, bold, courageous measures are considered and implemented rapidly. Keeping the lights on for local businesses, big and small, will be far more cost-effective than having large numbers unemployed and needing to develop a long-term recovery package.
Jersey Chamber members are committed to their employees – whilst we all agree that the medical response must take priority and we must do all to protect our community, there is a very real human impact to what is unfolding in front of us. We are fortunate to be behind many other countries in the spread of the virus, but we are absolutely at the forefront of the unfolding economic recession that, if not mitigated now, will have a significantly negative effect on so many of our community. Put simply, we are at the very edge of a state of emergency for the Jersey economy and like other nations, our government must act quickly and decisively to put greater support into our future.
Jennifer Carnegie
President, Jersey Chamber of Commerce