Financial Services Unit (Jersey) launches Financial Services Competitiveness Programme to sharpen tax strategy and improve the business and regulatory environment

The Financial Services Unit (Jersey) has launched the Government of Jersey’s Financial Services Competitiveness Programme, a cross-government and industry initiative intended to deliver actionable recommendations to strengthen Jersey’s financial and related professional services sector and its position as an international finance centre. The programme brings together government departments, the Jersey Financial Services Commission, Jersey Finance, Digital Jersey and industry representatives, and is governed by a Ministerial Working Group chaired by the Minister for External Relations with responsibility for Financial Services, Deputy Ian Gorst, with Dr Andrew McLaughlin as Senior Responsible Officer. Work is structured into four phased workstreams: an International Tax Strategy led by Revenue Jersey, a Business and Regulatory Environment stream led jointly by the Government and the JFSC, an External Growth Strategy led by the Government with expert support from Jersey Finance Ltd, and a Future Competitiveness and Regulation phase culminating in a report by an independent panel of global experts. The first phase is already underway and focuses on measures to improve the ease of doing business, including “quick-win” reforms alongside medium- and long-term changes. A progress report and action plan on next steps is due in spring 2026, with ongoing stakeholder engagement planned through industry events and roundtables, updates at Financial Services Advisory Board meetings, briefings for States Members and Scrutiny Panels, and consultation and feedback channels.