And he says that the decision to stick with the business tax system that ministers took three years ago despite threats from Europe will prove as significant as the decision to stay out of the European Community in the early 1970s.
Senator Ozouf said that the decision put the Island in a strong position to attract new business.
He said: ‘This is the best possible news for Jersey in terms of its stability and while I fully appreciate the fact that that the world is in turmoil economically with the sovereign debt crisis and governments around Europe and the rest of the world are struggling with debt, we in Jersey can turn the year with not only no debt and no deficit but a tax system which has been cleared of any lack of compliance or lack of adherence to EU code of conduct rules.’
