‘We need their people here’

Wednesday 1st October 2008, 2:30PM BST.

THE housing licence system needs to be more flexible if Guernsey is to harness the increasing flow of business from emerging markets, according to Ernst & Young partner Stuart Phillips.

Speaking about whether the island was ready to deal with the influx of such business, Mr Phillips (pictured) said more people from budding economies such as India, Brazil and Vietnam would be needed for their specialist knowledge.

‘Politicians need to consider the fact that clients from emerging markets are best served by people from those places.

‘Guernsey has a good spread of people from all over the world, which is key to its ability to function as an international business centre.

‘As the sources of money coming into Guernsey change, we need to be able to adapt to make sure we can match it with the appropriate expertise.’