CREATING a subsidised rent scheme to tackle Jersey’s “bean drain” may inadvertently benefit landlords and investors instead of young Islanders, the Housing Minister has said.
Deputy Sam Mézec was responding to research by student Jonathan Marett, whose dissertation argued that targeted housing support – including subsidised rents – could help persuade graduates to stay or return to the Island.
The Housing Minister said the University of Stirling student had done a “great job”.
“The things the young people he spoke to said are very much the kind of things I hear from them too,” added Deputy Mézec.
But he stopped short of backing Mr Marett’s proposed rent subsidy, warning that it could have unintended consequences.
“I am not sure a subsidised rent scheme is ambitious enough,” the minister explained.
“It could end up disproportionately benefitting landlords and investors, rather than the young people themselves.”
Instead, Deputy Mézec argued that the government should “put an official package of incentives together for our young people to encourage them to either stay or return after their studies”.
“This is something Reform Jersey is actively exploring for our election manifesto,” he added.
“In particular, housing is clearly an area that young people tell us is difficult in Jersey, so we should be deliberately targeting them with support.”
Deputy Mézec pointed to a recent policy change lowering the eligibility age for social housing to 18, aimed at helping younger Islanders access more affordable rents earlier.
“More young people who could afford to become financially independent if they had access to cheaper rents will have that option,” he added.
However, the minister suggested that the long-term focus should shift away from renting altogether.
“We should be focused on getting young people into homeownership,” he said.
Deputy Mézec also revealed he is looking beyond Jersey for ideas, highlighting a proposal from Guernsey to help first-time buyers save for a deposit.
He described a “really interesting” plan put forward by political party Forward Guernsey – led by Gavin St Pier – to create government-sponsored savings accounts for young people.
“I think this is something we should look at doing here too,” added Deputy Mézec.
