COVID-19 Response and Recovery Review: Economic and International Affairs

Since March 2020 the Panel has been gathering a significant amount of information in relation to the Government's response to the COVID-19 outbreak. In particular, the Panel has focussed its attention on the response of the Minister for Economic Development, Tourism, Sport and Culture in relation to support for businesses and the recovery of the economy. 

The Panel published a report on its findings on 3rd December. The report focused on the response of the Government between March - October 2020. As part of its on-going work programme, the Panel will be keeping abreast of developments in relation to the pandemic which may result in further reviews.

1.     Economic Framework

Undertake an in-depth review of the Government's processes in relation to the preparation, response and recovery of COVID-19 considering:

• whether the use of Public Finance specific to the economic wellbeing framework is consistent and meets the requirements of the Public Finance (Jersey) law 2019;
• adequacy of response and support packages for business;
• the impact to economy, businesses, jobs and affordable living for islanders;
• implication of COVID-19 on vital supply lines;
• emergency response structures and levels of resourcing, of all forms, allocated to COVID-19 response being sufficient or excessive to meet stated aims;
• lines of accountability during COVID-19 phased response;
• Jersey's response in comparison/contrast to other jurisdictions in relation to the economy and support for business;
• any other matters the Panel believe relevant to the review within its remit.

2.     Recovery Plan 2021-24

Review the Recovery Plan in relation to the impact for Jersey's economy and business community considering:

Budget

• the income raising proposals;
• how spending will be funded;
• how Government expenditure has evolved;
• individual departmental budgets and their feasibility;
• the viability and deliverability of capital projects;
• efficiencies being sufficient or excessive to meet stated aims;
• payback borrowing plans to Public Finances being sufficient or excessive.

Financial, economic and growth forecasts

• the levels of income against expenditure;
• the assumptions made for the economic forecasts;
• the impact of the financial and economic forecasts in Recovery Plan;
• timeline to replenish the Strategic Reserve and the source/s from which it will be replenished; 
• the economic sustainability of the Recovery Plan.

Design and implementation of the Recovery Plan 2021-24

• allowances made for the deficit in 2021 and beyond the period of the Recovery Plan;
• reserves; their use, and how they are allocated; 
• fiscal soundness of the Government's recovery plan.
• Given the fast-changing nature of the COVID-19 pandemic, the Panel may also need to consider any other matters it believes relevant to the review within its remit.