Jersey's value to the UK economy10 Jul 2013
Jersey Finance commissioned a study to analyse for the first time the value of the Jersey economy to the UK. The results of those findings, which were undertaken independently by a leading macro-economic research company Capital Economics, show that Jersey provides vital liquidity to the UK economy, facilitates significant inward investment from around the world and supports up to 180,000 UK jobs.
Some of the other key findings revealed that:
- Jersey is a conduit for almost £500 billion of foreign investment into the UK, comprising 5% of the entire stock of foreign-owned assets.
- £1 in every £20 of money invested by foreign individuals and companies in assets located in Britain reaches the UK via Jersey.
- Each year, Jersey banks send around £120 billion of their deposits to parent operations in the UK, representing 1.5% of the funding of the whole UK banking system.
- UK net tax receipts generated by the activities of Jersey are around £2.3 billion a year.
- About half of the combined value held in the stewardship of the Island’s trusts and other structures, funds and banks have been invested in assets located in Britain.
The full report is available to the public via the Jersey Finance website and can be found at www.jerseyfinance.je/valuetobritain