On Thursday 7 October Senator Ozouf and Senator Maclean addressed an audience at the Chamber of Commerce regarding the Fiscal Stimulus Package and where they are with this process. Please also see the press release article in the link below:-

http://www.gov.je/TreasuryResources/Government+help+for+construction.htm

It was mentioned at this presentation that many construction projects are ready to go & will start being released this year as they recognise that work within the industry is starting to dry up and this will hopefully assist contractors in future works.

It was mentioned that the government will ensure stimulus funds are only released to local businesses which is an encouraging statement and we hope that this will be fulfilled. On average, and starting from next month, an average of £300,000 per month will be released to our industry.

Senator Ozouf commented that they did not want to release projects too early because construction statistics had shown that until now the industry was not doing that badly in this current economic climate and they do not want to fuel inflation by putting more work into the market too soon.

To reiterate this has not been the case, only last week the JeCC board were again supplying information to government illustrating the urgent need for this stimulus injection. Therefore, if any member has any further information that would confirm the council's message, could they please speak to any Board Member of the Council or contact Caroline Harrington at enquiries@jerseyconstruction.org.

The Board of the JeCC continues to hold important talks with members of the Council of Ministers in order that they are aware of the current and future climate that our industry is facing and we are working hard to ensure that the construction industry continues to contribute largely to the economic well being of the Island.