That is the joint message from the Finance and Economics Committee, the States Treasury and the Jersey Bankers Association, in a campaign launched today to encourage people to use Jersey currency.Increasing the amount of Jersey currency in circulation benefits the Island’s finances directly, said Finance and Economics Committee president Senator Terry Le Sueur .
Last year alone, the Treasury earned £2.3m in interest on cash in circulation, he said, and it was a more painless option than raising taxes.’It is just a simple choice for bank customers,’ he said, ‘and one which does the Island a favour.
Every pound note of the Jersey type earns us interest, and this income of £2.3m is not to be sneezed at! With some more conscious effort, we are aiming to create an income of £3m simply by more people using Jersey currency rather than UK currency.’
