Jersey Finance has warned that changes to Jersey’s tax system could result in thousands of job losses and hundreds of millions lost in tax revenue.

Speaking out ahead of a States debate today that will seek to limit its grant, Jersey Finance has identified a number of key facts to help better inform the debate. These key facts highlight the benefits of the finance industry to the island and the external threats Jersey faces which, on top of the global slowdown, include possible sanctions from other countries, regulation that could limit the type of business done in Jersey and competition from 42 other jurisdiction that offer the same services as Jersey.

The above is an extract from the  press release ‘Jersey Finance Comments on Taxation and Funding’, to read in full please click here.