From the Summit of the Moral High Ground

Historical Archive This article is preserved as part of the historical record of this blog. It reflects the author's views at the time of publication. The content has not been substantively altered, although the HTML, accessibility and formatting have been updated to meet modern web standards. Amid the din of economic nonsense being bandied about since 2008, there has been the persistent refrain that the States should be run more like a business. If only more business people were in charge to wield their business acumen, we would have this country in shape in no time. But is that really a good solution? Businesses seek primarily to increase their revenues and profits. Government revenue depends upon taxation. Government accumulates tax money by collecting it from the productive earnings of Islanders through its statutory powers. At the time of writing, the Government of Jersey collected roughly £600 million annually. I argued that increasing government revenue was not t...

Historical Archive This article is preserved as part of the historical record of this blog. It reflects the author's views at the time of publication. The content has not been substantively altered, although the HTML, accessibility and formatting have been updated to meet modern web standards. We were told Jersey would be saved from economic catastrophe if the government straightened the Avenue. The first stimulus worked, apparently, and all we needed to bring back prosperity was more government stimulus. Stimulus might appear to work for some people for a short time. For a while they could pretend to be engaged in productive activities that would help the economy. Employment might temporarily rise, but these were not long-term jobs, the capital spent did not remain in Jersey, nor did the wages of those employed. The government is a terrible venture capitalist. "Biggest targeted improvement in taxation for families with young children the island has ever had...