The hotelier and veteran politician came fourth in the Senatorial poll, receiving 12,417 votes, which he considers to be enough of a vote of confidence to throw his hat in the ring for the top job.
He was the first candidate to declare his intention to stand for Chief Minister if he were to be successfully elected.
Senator Farnham said that he believes the electorate backed him because of his experience, which will be needed after a number of senior Members, such as Senators Alan Maclean and Sir Philip Bailhache, did not stand for re-election.
‘We had some very capable and experienced politicians step down this time, so I think the public wanted to see some experienced people remained in,’ he said.
‘I think they have appreciated the work that I have done with Economic Development for the last three years. For the next four years what we have to do is focus on productivity. What we have been doing is boosting the economy by bringing in more people.
‘What we need to do is produce more with less people and that way we will be able to control our population better.’
He added that he believed the key to greater productivity in Jersey’s economy was more diversity.
‘I would like to see greater diversification of Jersey’s economy. I would like Jersey to be more than just an international finance centre,’ he said.
‘I would like to see Jersey become known as a international business centre, with all sorts of businesses registering here.’
The Senator said that he declared his intent to become Chief Minister early on because he wanted to be open about his political plans.
‘I said before that I would like to stand for Chief Minister and that I am still considering a challenge,’ he said.
‘I wanted to be clear with the electorate about what my plans are. I think that it is important to be open and that’s what I was.’
