Although not doubting zero-10, Advocate John Greenfield has concerns as to the impact of the States decision on population. ONLY months to go before zero-10 becomes reality.

While I’m no tax expert, there is no doubt in my mind that the strategy is the right one for Guernsey if the island is to remain successful in what is an increasingly competitive marketplace in the world of offshore finance.

New jurisdictions are opening for business on a regular basis and Guernsey’s continued success has been largely attributable to our flexible approach to an ever-changing market.

Such new jurisdictions, together with the more established ones, would love to take over as much of Guernsey’s existing finance business as they could.

Guernsey relies on its reputation and perception in the global markets to continue to attract work that will ultimately result in the vital generation of taxable income within the island to pay for all the needs of our community.

It has been stated by the States that an annual growth of 4% is needed to generate the requisite level of tax.

What is not clear is how the politicians expect those running businesses to achieve such growth with a capped population.

Anyone working within the finance sector, which is clearly expected to bear the brunt of the required growth, will know that people are already working flat out.

Is there a real understanding of what ‘business’ actually needs to survive and grow? Recent decisions indicate there isn’t.

Of equal concern is the potential competitive advantage this gives to other jurisdictions – including Jersey – and the message this gives to the outside world.

How can we on one hand be discussing ways to encourage locally qualified young people back to the island and then in effect strangle business growth via our immigration policy?

Qualified professionals will not be attracted back by States handouts in the form of loans etc.

They can be attracted back only if there are the right jobs here for them and if we are not careful we could see a repeat of the so-called ‘good old days’ when our bright youngsters were effectively forced to emigrate to find acceptable jobs.

We at Carey Olsen, like any other business, need to be confident that we are putting our own five-year plan together within an environment able to show flexibility and adaptability and based on a structure with full understanding of the economy.

Guernsey should be proud of its ability over the years to adapt to changing markets and consumer needs.

But recent decisions on immigration and population policy have bucked the flexibility trend and certainly do not demonstrate joined-up thinking.

Zero-10, yes, is needed, but how can business achieve 4% growth with its hands tied behind its back?