Dr Andy Sloan spoke at the most recent IoD breakfast briefing, with an update on the work towards a financial service strategy and a focus on green initiatives.
Repeating what he had said at the recent IoD dinner debate, Dr Sloan said he thinks of Guernsey as a "specialist global finance centre servicing sophisticated global clients" which has faced some challenges.
But he said the development of a long term financial strategy will help stop the island being known as a tax haven. He said it's "not merely a quick PR exercise and marketing of one new product – no matter how great that one product is.
"It is about genuinely becoming a finance centre that cares and believes in green and sustainable finance."
Dr Sloan said the strategy will have three core elements:
His speech, which can be read in full here, also referred to the policy framework as a "coordinated approach to achieving a strategic common purpose of the development of Guernsey’s financial services sector to safeguard its long term future."
"It’s publication will be a positive statement of intent, defining clearly how we will seek to drive the development of our finance sector and help it evolve and meet the challenge of securing Guernsey’s economic future in a post 2020 world, setting out various market positions that we will seek to achieve and the principles that will guide our approach in doing so," he said.
Dr Sloan discussed the long term goals of the strategy which include:
He said that "every journey starts with a single step and to get us there we’ll need some more immediate/short term objectives. And looking forward, our four immediate short term, that is 12 months, objectives are by comparison much simpler but nevertheless still ambitious."
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