‘No conspiracy’ over finance centre funding arrangements

alan maclean
Treasury Minister Alan Maclean

A BANK’S claim over a portion of the Esplanade that has been used to secure funds for part of the Jersey International Finance Centre is likely to be ‘released’ by September 2017 ‘at the latest’, according to the Treasury Minister.

After it emerged on Monday that the land was being used to secure financing for Building 5 of the Jersey Development Company’s flagship project – the second unit of the complex, Senator Alan Maclean has moved to reassure Islanders that there is ‘no conspiracy’ being played out.

And he said that the use of the land had no relevance to the debate about the location of the future hospital following claims at a Scrutiny hearing on Monday that allowing the area to be tied up in the deal removed the site as a potential choice for the multi-million-pound project.

Senator Maclean’s comments follow questions from lobbyists the St Helier Waterfront Action Group, which says it has concerns about the situation.





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Comments for: "‘No conspiracy’ over finance centre funding arrangements"

karaoke joe

Why would I believe anything from this minister ?. He should have resigned a long time ago. He would probably say this would be Impossingworth.


What an absolute load of rubbish, why has this not been made public before?

Lets take into account they knew about this funding clause, So how much has been spent looking at this site for the proposed new Hospital when they knew it could not be there.

If you ask Sarah Ferguson I told her over a year ago that the site could not be used

as there was a funding clause in place.

Another classic example of the continued lie's / cover ups and corruption we are facing from this council of ministers.

Sir P Bailhache has the nerve to state that the TRUMP election was a Political earthquake, when we have a Political disaster in this Island.

We should get rid of all of them.


Oh well if Alan McLean assures us , it must be alright!? There's a man of his word.... not. Another one who is clueless.


Tim South

There is no conspiracy says the Treasury minister Alan Maclean, of course there is Alan and it is just so obvious.

Minsters have decided that it is perfectly acceptable for people like Mr John Mills, ex States chief executive ( independent employment board and others ) and Mr Henry ex treasury accountant ( independed commercial SoJDC ) plus many other retired, on pension and paid ex establishment employees, that sit on quangos that states members have little control over. Worse elected politicians are unable to get meaningful information from this fully owned businesses. Government is being usurped by quango's.

The situation should never have been allowed to happen that publc assets like the valuable waterfront land, social housing and the airport and harbours are ruled by organisations that care nothing for the people or Jersey's beauty, but instead for the bonuses stuffed into wage packets if boards make money.

The SoJDC is a good example, it's borrowing keeps rising, and the return to the Jersey tax department and states coffers are appalling ( and uncertain ) while been literally given ( not purchasing at market value ) assets worth muti-millions. A private company would have gone bankrupt years ago. Instead the population face tax rises and charges.

Mr Maclean and his fellow ministers should be minded that changes are coming as Clinton and Cameron found out re Trump and Brexit, for completely underestimating the voice of the people who realise that they have awesome power in the ballot box.


The problem, Mr South, is that we are unable to get rid of any of them. The whole government/civil service is incompetent/corrupt beyond belief. That is why the island is being destroyed, mass immigration of low wage workers, companies only offering zero hours minimum wage jobs, building everywhere. This place is just a few years away from being destroyed and a few years after that bankrupt

Shoot to Thrill

No matter what the States or The Jersey Development Company says, a tiny minority with their own developer business interests will try to drum up conspiracy.

This despite never getting anywhere with it.

Finding Me:Mo

But as ever Sh[ ]ill , you miss out the important bits .It is what has NOT been said by SoJDC that makes people shout ' conspiracy of silence'. If you bother to read the Ministerial Decision on this you will see that Fireman Refault ( the self professed expert in real estate having got the Parish Shed approved ( check his cv!) signed this off on behalf of the minister .At no point was any comment made about the nature of security and public risk, let alone the long list of NEW ( as opposed to inhouse tenants) tenants promised before ANYTHING new happened.

This is the use of Executive Orders that would make Obama or perhaps Trump weep and to cap it all you get the 'trust us we know best, and you cannot find out anyway because it's an arms length company you own ,but can only be accessed through ME'.

There is your conspiracy!


If I wrote what I thought it would never be printed. Suffice to say no one trusts word any minister says. The reason, the don't understand what the civil service have told them to say. All daft, about to crash on right wing rocks. Just leave



red squirrel

A privately owned state of the art and open for business block next to the Grand Hotel has 50% occupation,the first of the blocks financed by us lucky taxpayers which is not yet complete is fully reserved,strange that.


Of course it is the only problem no one pays any rent! yet all those at the top of JDC will get 10's of thousands bonuses!

We are here because of Ozouf and his 'mate' Boleat who 'jumped ship' minutes after the start of building work, Golden handshake?

Running a company 10's of millions in debt yet boss and hired help get 10's of thousands bonuses!

red squirrel

Just another thought for any journalists out there,why did HSBC ask for collatoral ?,I am sure that Mr Mclean told us that the Billion pounds he is borrowing on our behalf for "Capital projects" such as the hospital waterfront etc is AAA rated,things are starting to not add up.

Realist Human

Why make the conspiracy comment if there isn't one? Jersey politicians will never learn, this is going to blow up in their faces watch this space!!