The corporate banking team at Royal Bank of Scotland International – one of the Island’s major banking employers – say that now is a good time for the States of Jersey to consider alternative forms of financing for essential capital spends, such as maintenance of housing stock and the replacement for Bellozanne.
Graeme Smith, director of corporate banking in Jersey, said that over the past five years RBSI’s offshore team had been working with governments in the Isle of Man and Gibraltar.
‘We have a good relationship with the States of Jersey and we talk to them regularly, but we are keen to do more,’ he said.
‘In the current economic climate, with zero/ten corporate tax inevitable, we believe there is a debate to be had as to whether there are alternatives that the Island might want to consider.
