THE States should borrow to fund major projects such as the airport runway, according to one business leader’s group.
Speaking at its annual dinner, Shelagh Mason, chairman of the local branch of the Institute of Directors, said there was nothing wrong with the use of loans to spread the cost of projects important to the island’s infrastructure.
‘The obvious question is the airport runway. It must be upgraded.
‘We have seen that prevarication only increases costs. So in these days of tightening our belts on public spending, how do we deal with this?
‘Firstly, we need to recognise those issues of critical importance and learn how to prioritise and consider how we pay for things.
The States policy has so far been to pay for major projects with money from its own purse rather than borrowing from elsewhere.
But she said she could see nothing wrong with borrowing.
‘Almost every other government in the world does it.
‘How many of us pay cash for our houses or our business investment in one go? At least we should consider the option.’
She said that Guernsey was the home of world-class businesses, outside the financial services sector, which deserved to be shouted about.
Specsavers, Guernsey Clematis, Meadow Court Farm, Polar Instruments and Travelmaker were success stories to be proud of.
Mrs Mason said everyone benefited from the diversity of the business community and to shun it was to shun the Guernsey spirit.
‘I believe that one of the most important messages we can get across is the importance of our business community as a whole.
‘If we want good schools, good health care and yes, even a sewage treatment works, we need to prosper as an economy and business needs the support of the island to do this.
‘An environment that is business friendly and one which does not constantly put obstacles in the way of innovative business practice and basic business requirements.’
Article posted on 22nd February, 2008 - 2.29pm
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