LVCR removal has cost 400 jobs

Senator Alan Maclean announced the figure in the States and warned that more redundancies were likely in the coming months.

However, he said that the scrapping of Low Value Consignment Relief – which allowed Island companies to import goods worth less than £15 into the UK VAT-free – had not led to the wholesale closure of the industry.

Kevin Keen, the chief executive of Jersey Post, agreed with the minister’s cautiously optimistic assessment of the current situation.

Earlier this year, it was estimated that around 1,500 Jersey jobs were in jeopardy as a result of the UK Treasury’s decision to scrap LVCR, which came into force on 1 April.