The report, by Comptroller and Auditor General Karen McConnell, detailed a catalogue of failings over the lending of millions of pounds of taxpayers’ money to start-up businesses.
Ms McConnell found that the fund – which had a budget of £5 million when it was set up in 2013 – was not fit for purpose and recommended that it be frozen immediately.
The report revealed serious failures in the set-up and management of the fund, with only 26 per cent of the repayments due on the £2.1 million worth of loans to date received. She concluded that almost £1.4 million may never be recovered.
St Saviour Deputy Jeremy Maçon and St John Constable Chris Taylor have joined calls from St Helier Deputy Sam Mézec for Senator Ozouf to either resign or be sacked following the report.
During a statement made in the States Chamber last June, Senator Ozouf said: ‘The Chief Minister has delegated responsibility for innovation to me and I am therefore responsible and accountable to this Assembly for the fund, including all ministerial decisions, past, future and present, associated with it.’
The JEP attempted to contact Senator Ozouf for comment but received no response at the time of going to print.
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