Global threats to Jersey’s prosperity, warns panel

The Fiscal Policy Panel, which provides independent economic advice to Treasury Minister Alan Maclean and other States Members, has downgraded most of its predictions for growth in the Island’s economy, as it feels that risks have increased over the six months since the panel produced its last report.

The predictions for increases in economic output, company profits, wage levels and house prices have all fallen.

It also said the States would need more flexibility in its spending plans and would have to use the panel’s forecasts more cautiously due to increased economic uncertainty.

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