David Warr said the Island faced a wholes series of challenges in the year ahead with record unemployment and an economy that is now smaller than it was a decade ago.
He said the retail environment was under attack from the internet and the tourism industry was struggling.
Mr Warr said that the construction industry was wondering where and when the next big project is going to come from.
And he said that even the finance industry was under continual threat from external criticism and had also contributed toward the creation of a tax regime that had left every working Islander poorer.
