Business leaders and politicians discuss future blueprint for Island’s success

SKILLS shortages, the role of AI and the need for balanced growth were among the topics discussed by business representatives and politicians at a debate organised by the Jersey branch of the Institute of Directors.

Hosted by broadcaster Natasha Kaplinsky and IoD chair Alex Ruddy, with sponsorship by Appleby, the event at the Radisson Blu hotel highlighted global pressures mirrored locally, such as an ageing population, declining birth rates, and the importance of attracting skilled labour.

Panellists included geopolitical and leadership expert General Sir Peter Wall, economist Michael Oliver, Altum Group chief executive Zena Couppey and Murray Norton from Jersey’s Chamber of Commerce.Ms Ruddy called for a bold, collaborative response from Jersey’s business community and government, urging them to embrace innovation and risk to drive growth.

A live poll conducted before and after the debate revealed that while only a small minority of attendees felt “very confident” about Jersey’s five-year economic outlook, a majority expressed “at least neutral to somewhat positive” sentiment.

Key issues raised included the need to improve access to capital, reduce regulatory barriers, and promote emerging sectors. Attendees stressed the urgency of reforms in immigration, planning approvals, and education, as well as the importance of investing in digital infrastructure and modernising Jersey’s financial services image.

The role of AI emerged as both a promising innovation and a potential economic disruptor requiring proactive policy planning, with the IoD planning a stand-alone event focusing on this area on 15 May.

Other topics included:

• The need for Jersey to move beyond “tax haven” perceptions by modernising anti-money laundering rules, expediting regulatory approvals, and sharpening the Island’s financial branding.
• Calls to fill the skills gap through education reforms, capturing the expertise of retirees, and investment in tertiary education and infrastructure.
• Addressing high barriers to entry for start-up financial services businesses, with the need for up to £2 million in investment to launch a financial services business flagged as a major hurdle.
• Suggestions included lowering regulatory costs, creating innovation “sandboxes,” and addressing housing affordability.
• Making make the Island more attractive to young, skilled residents and adapting the tourist industry to focus on the future, rather than relying on recreating the past.

Article issued by Newsdesk on 11 May 2025.