A Strong Industry for a Strong Island

13 Feb 2026

2026 is an election year in Jersey, a pivotal moment to shape the Island’s future direction. The decisions taken by the next Assembly will influence Jersey’s competitiveness and long-term prosperity at a time of increasing global uncertainty and competition.

Through A Strong Industry for a Strong Island, we are sharing the industry’s perspective on how we can work with the next Assembly to support Jersey’s future prosperity.

It is intended as a practical contribution to inform both voters and candidates as they consider the Island’s future, and how we can work constructively together to support a thriving, resilient and forward-looking Jersey.

Woman walking along the seawall with Elizabeth Castle in the background.

Key takeaways

For those short on time, the key points are set out below:

Jersey’s Financial and Related Professional Services (FRPS) industry is a connected ecosystem of financial firms and professional specialists that support jobs, skills, public services and the Island’s global reputation. Its impact extends well beyond the firms themselves, contributing to community life and reinforcing Jersey’s standing internationally.

A thriving industry supports quality of life in Jersey, while a strong, well-run Island is essential to the industry’s continued success. The international finance centre provides a reliable, year-round source of demand that underpins key parts of Jersey’s economy, including hospitality, retail and air connectivity.

Economic uncertainty, geopolitical tension, climate transition and intense international competition mean that standing still is no longer an option. Jersey must continually earn its place as a jurisdiction of choice by being responsive, reliable and forward-looking. A programme of work to assess competitiveness is now under way; continuity, alongside timely and deliberate action, must now follow.

Joined-up policy making and sustained collaboration between Government, industry and the community will shape Jersey’s prosperity for decades to come. Long-term success depends not on isolated decisions but on shared commitment, clarity of purpose and consistent delivery.

Taken together, these points outline the case clearly. As voters consider the choices before them, and as candidates prepare for public office, we ask that the role of the industry, and the conditions it needs to thrive, are kept firmly in mind.

The decisions taken during the next Assembly term will shape not only the future of the industry but the future prosperity and wellbeing of the Island as a whole. Read on for the full explanation.

Contents

Introduction
Working together in a changing world
An industry to be proud of

Jump to

Introduction

Through A Strong Industry for a Strong Island, we are sharing the perspective of Jersey’s Financial and Related Professional Services (FRPS) industry, a broad ecosystem that includes not only financial firms, but also the lawyers, accountants, administrators, technologists, advisers and specialists who together make Jersey successful as an International Finance Centre.

Throughout, we refer simply to “the industry”. By this, we mean the full community of more than 14,000 Islanders that together underpin Jersey’s economy and connect the Island to global markets.

Working together in a changing world

We are operating in a world shaped by overlapping and reinforcing pressures: a global cost-of-living crisis; prolonged economic and political uncertainty; societal polarisation; conflict in Europe, the Middle East and beyond; the climate emergency and the transition to net zero; and intensifying global competition for capital, talent and trust.

In this environment, standing still is not a neutral choice and complacency is one of the greatest risks a jurisdiction can face. Those who assume yesterday’s success guarantees tomorrow’s relevance will discover – often too late – that the world has moved on without them.

Jersey has a strong foundation: a respected regulatory framework, political and fiscal stability and a reputation built over more than 60 years. But maintaining that position requires active choices, long-term thinking and genuine collaboration between our Government, industry and the wider community.

Below, we set out:

the value the industry brings to the Island and its people
and
how Government can help us remain competitive, resilient and relevant in the decades ahead.

Our requests are not self-interested or made in isolation. The industry is deeply embedded in Island life. Its success helps support public services, creates career opportunities, strengthens infrastructure and contributes to the overall quality of life in Jersey across all its communities and industries. Many of the challenges and priorities we raise are not unique to our industry, but are shared across other sectors that are equally invested in the Island’s long-term prosperity.

The relationship is symbiotic: the industry needs the Island to thrive and the Island benefits when the industry does well.

An industry to be proud of

The industry is a cornerstone of Jersey’s economy, employing more than one in five working Islanders and supporting jobs and businesses across the community. Its contribution goes well beyond the firms themselves, helping to fund public services, strengthen local businesses, drive innovation and enhance Island life.

Much of the industry’s impact is felt through everyday spending. More than 80% of industry expenditure stays on the Island, supporting local suppliers such as professional services, IT providers, construction firms, transport operators, retailers, restaurants and hotels. This spending does not stop with those businesses; it circulates through the economy as employees and suppliers spend locally, creating stable, year-round demand that helps underpin jobs, services and public revenues across the Island.

The international finance centre also provides a dependable stream of business visitors that supports parts of Jersey’s economy which rely on consistent demand, including hospitality, retail and air connectivity. Around 30,000 business visitors are hosted by the industry each year, generating an estimated £19 million in local expenditure annually, with additional non-hosted visits adding further impact. Unlike leisure tourism, this activity generates more stable demand throughout the year, helping sustain services and infrastructure that benefit residents and visitors alike.

Taken as a whole, the industry contributes around £4 billion to Jersey’s economy each year, supports around two in every five jobs (around 40%) either directly or indirectly, and generates more than half of total tax revenues, helping fund essential services such as healthcare, education and infrastructure.

This model is particularly important for a small island like Jersey. With limited land, resources and a small domestic market, long-term success depends on high-value industries that connect the Island to the rest of the world. Our industry is well suited to this role, generating significant value without the need for large workforces, extensive development or intensive use of land and natural resources.

Beyond economics, the industry also plays a wider role in the community. It invests in skills and training, contributes to charitable and community initiatives, and contributes to sustainable finance efforts that have positive impact both locally and internationally.

Jersey’s international finance centre also plays an important role beyond the Island, facilitating cross-border investment that supports businesses, infrastructure and communities around the world. As a tax-neutral jurisdiction, Jersey ensures that capital invested through the Island is taxed where economic activity occurs, avoiding double taxation and enabling efficient international investment. Operating to internationally recognised standards set by bodies such as the OECD and the Financial Action Task Force, Jersey acts as a stable, well-regulated conduit connecting global capital with productive economic activity. This responsible international role reinforces why maintaining a strong and reputable industry at home is so important for the Island’s long-term prosperity.

A strong, well-regulated and responsible industry is therefore something Jersey can be proud of – and something worth protecting and actively promoting for the long-term benefit of the whole Island.

The Conditions for Success

Competitiveness: turning intent into action

Over the past 18 months, the Government of Jersey has driven a comprehensive programme of work to assess the Island’s competitiveness as an international finance centre. This work is essential to Jersey’s long-term prosperity.

We welcome this focus on competitiveness and urge that this work translates into timely, practical action and an ongoing commitment to continually innovate, refresh and advance the industry’s progression. The decisions taken now will shape Jersey’s relevance for the next generation.

We call on the next Assembly to:

act on the findings of the Financial Services Competitiveness Programme, turning analysis into delivery
work closely with the industry to evolve legislation and regulation, and speed up the development of products and services.

Vision2050: long-term thinking for a competitive Island

Complementary to this focus on competitiveness, the industry’s ambitious Vision2050 work is about looking well beyond the next five or ten years and asking a simple but critical question: what does Jersey need, as an Island, to remain a thriving international finance centre over the long term?

It recognises that the industry’s future success depends on the wider operating environment of the Island, and that Government policy choices – beyond traditional economic or finance portfolios – have a direct impact.

For the industry, this long-term vision must be supported by:

modern technology, digital capability and infrastructure that supports innovation and productivity
a competitive regulatory and policy toolkit
conditions that attract and retain the best talent
a clear commitment to working together to maximise sustainable benefits for the Island as a whole.

Vision2050 highlights how interconnected policy areas shape Jersey’s long-term attractiveness, including:

education and skills, from early years through to lifelong learning
childcare and family support, which affect workforce participation and retention
housing and cost-of-living pressures
digital connectivity and broadband capability
healthcare capacity and resilience
transport and physical infrastructure
regulatory, legal and fiscal frameworks that underpin confidence and stability.

We call on the next Assembly to:

recognise the interconnected nature of its policies
work collaboratively across departments to ensure decisions taken in one area do not unintentionally undermine another through a shared framework for joined-up policymaking.

Innovation and technology: keeping pace with the world

To prosper, Jersey must continue to evolve. Innovation, digitalisation and new ways of working are reshaping financial and professional services globally, often at pace.

Jersey has a strong track record of adapting existing products and developing new ones within a robust regulatory framework. To sustain this strength, Government and regulators must be equipped to anticipate emerging trends, understand industry needs and respond in a timely and proportionate way. A future-ready environment, informed by technology and shaped through continuous engagement with industry, can actively enable innovation rather than unintentionally slowing it.

We call on the next Assembly to:

ensure Government is properly resourced, technologically informed and built around ongoing engagement with industry, so that regulation keeps pace with innovation and supports sustainable growth
encourage innovation, entrepreneurship and the adoption of new technologies
support the development and use of digital tools that improve productivity and resilience across the economy.

The right connections: infrastructure that works for everyone

Connectivity is fundamental to Jersey’s success for businesses, residents and visitors alike. Ongoing investment is needed in:

transport links that support business and leisure travel
office and commercial space that meets modern needs
resilient digital infrastructure, including high-quality broadband and data capability

Strong infrastructure makes Jersey easier to do business in and enhances quality of life across the Island.

We call on the next Assembly to:

regularly review transport links to ensure they meet business and community needs
continue investing in digital infrastructure to maintain Jersey’s position as a highly connected jurisdiction.

Sustainability: enabling positive global impact

Jersey’s role as an international finance centre gives it the ability to help direct capital towards sustainable outcomes around the world.

The Island’s Carbon Neutral Roadmap and Sustainable Finance Action Plan recognise the importance of collaboration between Government and industry in achieving this ambition.

To position Jersey as a centre of excellence for sustainable finance, and capture the economic opportunities that brings, we need agile policy making, practical support and shared ambition.

We call on the next Assembly to:

provide enabling policies that support a fair and orderly transition to a low-carbon economy
support the development of a worldclass sustainable finance ecosystem that delivers positive environmental and social impact.

Jersey’s reputation: telling a confident, credible story

Global competition for investment is intense. Jersey must continue to promote itself clearly and confidently, grounded in substance, expertise and high levels of service and responsiveness.

The industry plays an important role in telling Jersey’s story, not just as a finance centre, but as a place with strong institutions, a skilled workforce, a commitment to quality of service, an innovative and collaborative mindset, and a distinctive cultural identity.

We call on the next Assembly to:

support international engagement and partnering with key markets, regulators and policymakers
help articulate a clear, balanced narrative about Jersey’s role in global finance and the real benefits it brings.

Stability and certainty: foundations for growth

Political, economic and fiscal stability have traditionally been recognised as being among Jersey’s greatest strengths. They underpin confidence, encourage investment and support long-term decision making.

Ongoing stability must be reinforced by a clear long-term strategy that endures beyond electoral cycles. Predictability matters to businesses, investors and employees alike, all of whom have alternative choices that lie beyond our shores.

We call on the next Assembly to:

support a clear long-term policy framework for the industry
demonstrate a consistent commitment to stability through words and actions.

People, skills and wellbeing: a sustainable workforce

People are central to Jersey’s shared prosperity and quality of life. The industry employs more than 14,000 people, and the skills, wellbeing and resilience of that workforce shape social outcomes across the Island, alongside economic performance and international competitiveness.

While the industry invests heavily in training and professional development, rapid technological change and evolving roles mean skills must continually adapt. Long-term competitiveness depends on a society that values and, importantly, invests in learning at every stage of life, from early-years education and schools, through further education, to ongoing upskilling and reskilling.

Preparing children and young people for a changing world of work, and enabling adults to adapt as roles change, is essential to sustaining a resilient and inclusive workforce. Home-grown talent is vital but targeted migration also plays an important role in filling skills gaps, bringing fresh perspectives and supporting diversity.

More broadly, policies that support physical and mental health, protect the natural environment and enable people to balance work and family life help create the conditions in which talent can be attracted to, retained by and thrive in careers within our Island.

We call on the next Assembly to:

take a joined-up approach across Government and invest in education, skills and lifelong learning, including upskilling and reskilling across society
use robust data to inform education, skills and migration policy
maintain close dialogue with the industry on workforce needs
invest in accessible, high-quality health and mental-health services.

Working Together for the Long Term

The industry is not separate from the Island. It is part of it. Its success and Jersey’s success are inextricable.

With the right partnership between Government, industry and the community, Jersey can continue to thrive as a stable, responsible and competitive international finance centre for decades to come.

The choices made now will shape the Island’s future. We stand ready to work together to ensure that future is ambitious, inclusive and sustainable.

Topics

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