As dozens of protesters gathered in the Royal Square yesterday to call for the politician to be sacked, Senator Ozouf delivered a statement to the House saying he would step aside to prevent speculation about his future becoming a ‘distraction’ during further reviews of the fund.
Chief Minister Ian Gorst later confirmed he would accept the resignation and offered to consider his own position if he was found to be at fault.
Senator Ozouf is the first political casualty of the fall-out of Comptroller and Auditor General Karen McConnell’s damning report on the fund, from which £2 million worth of loans were made to start-up firms.
She found that the fund was ‘not fit for purpose’ and concluded that £1.4 million of loans were unlikely to ever be repaid.
Senator Ozouf has had responsibility for innovation, competition and digital since November 2014, and was given full responsibility for the fund at the start of last year. The Senator will now relinquish all of his ministerial responsibilities.
Full story in Wednesday’s JEP.
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