IT is only a matter of time before Jersey goes into recession, the Chief Minister said yesterday.
On the same day he told manual workers to ‘get realistic’ over their pay claims, Senator Terry Le Sueur told the States: ‘It is a question now of when Jersey might go into recession and not if.’
He made the remark just minutes before his Treasury Minister announced a rescue package to stimulate the faltering economy.
Senator Philip Ozouf said that millions of pounds held in the stabilisation fund could be made available to support local businesses of all sizes through the credit crunch.
• Picture: Chief Minister Terry Le Sueur (right) faces Woolworths protesters before the first sitting of the new year. The States debate on their possible redundancy package has been adjourned.
