Jersey is funding half of the Nurses in the NHS
The NHS was front and centre in the UK national news yesterday following the publication of the Keogh report on 14 Failing NHS Trusts. The story has carried over this morning with the Chief Inspector of Hospitals announcing a new and more thorough review system with published findings.18 July 2013
Jersey is not part of the NHS but we would share the sentiments expressed in the introduction to the Keogh report;
"The NHS embodies the social conscience of our country. Every week, our NHS positively transforms the lives of millions of people and we should be deeply proud of this fact."
So what has this got to do with the Jersey Finance Industry?
High quality healthcare needs funding, the funding comes from taxes, and the taxes come not from governments but from business and private individuals.
The NHS is an enormous undertaking and small wonder it takes some managing, with a budget of £106bn, employing 146,000 doctors, 369,000 nurses, and 37,000 managers.
Around 1.7m people were employed by the NHS in 2012. But is it really the third largest employer in the world after the Chinese Army and the Indian railways?
Not according to this chart sourced from the BBC news website
But its still pretty huge and needs substantial funding.
The infographic demonstrates the contribution Jersey makes to the UK through the business it creates which generates taxes for the UK Exchequer.
With 180,000 jobs generated it can quite reasonably be argued that Jersey is providing the means to support half of all the nurses in the NHS!
Locally here in Jersey the contribution is even greater.
The Health and Social services budget in Jersey is around £175m and the tax receipts generated by the Finance industry locally (direct and indirect) amount to approaching £300m, more than enough to support the entire health service.
Nurture business and you nurture society