He has decided to freeze company fees for locally owned firms for at least a year, saying that he did not want to make life more difficult for local firms.
The minister has instead approved an increase in the charge made to what are termed international service entities – companies owned from outside the Island. It is estimated that about £3 million will be raised as a result, and the extra amount has already been factored into the budget approved by the States last month.
The Jersey Chamber of Commerce has paid tribute to the minister for listening to concerns raised by local businesses as part of a consultation process.
Competitive
