In September, as part of measures to regenerate the economy following the Covid-19 outbreak, the government issued all residents with cards worth £100, which could be spent with any local business.
The deadline for spending the cards was Saturday and more than 103,000 of the 105,000 cards issued were activated and used at least once, with the weekend seeing a last-minute spike in use as people rushed to spend their remaining balance before it expired.
Any unspent money reverts back to the Treasury.
Reflecting on the success of the scheme, Chief Minister John Le Fondré said: ‘I am delighted that Islanders have really got behind the scheme and helped to distribute the money across such a large number of businesses.’
Senator Le Fondré said the method of stimulating the economy was a world first and put the Island on an international stage as it set an example to other jurisdictions.
He added: ‘Islanders choosing to shop at their favourite local businesses have provided a much-needed boost to our economy while, at the same time, increasing consumer confidence overall.’
Senator Le Fondré said the government would be further examining the final data to understand its full effect.
He added: ‘And, once again, I would like to encourage Islanders to continue the spirit of the scheme, spending locally with their favourite businesses and playing their part to help support and stimulate our local economy – doing their bit to spend local.’
Islanders are reminded to keep hold of their cards as there is the possibility that they may be topped up in the future.