£10m States fund aims to kick-start struggling economy

Plans for a £10 million ‘innovation fund’ are going to the States today as part of the Economic Growth and Diversification Strategy that aims to kick-start the Island’s struggling economy.

The details of the new fund are being thrashed out by the Economic Development and Treasury departments and will come back for final approval by the Assembly before the end of the year.

The overarching growth strategy, which is the work of Economic Development Minister Alan Maclean, is being debated in the last States sitting before Members start their two-month summer break.