La Corbière Lighthouse, Jersey
The bailiwick of Jersey
Located in the English Channel close to the Cotentin Peninsula, the Island of Jersey can be found 25km from the French coast and 130km from England. It is 120km2 and has a population of approximately 100,000, the majority of whom live in St Helier, Jersey’s capital city.
The Island is an autonomous dependency of the British Crown, a link that has been established for over 800 years since Jersey formed part of the Duchy of Normandy. Under this constitutional arrangement, Jersey is self-governing with its own Government, own Parliament (the States Assembly) and own legal system. The Executive function of Jersey’s Government is carried out by the Council of Ministers, which is led by the Chief Minister, Deputy Kristina Moore.
Royal Bank of Scotland, Jersey
Economy and trade
Over the centuries the Island’s economy has undergone significant change from a focus on agricultural industry – whether it was cider, cattle or potatoes – through tourism, to the present day where
the financial services industry directly accounts for approximately 40% of the economy. The presence of a successful finance sector enables Jersey to provide high-quality public services and also means that the Island’s standard of living is higher than it might be otherwise: in 2011 gross value added (GVA) was £3.6bn, translating to £37,000 per head, one of the highest in the world. Jersey has a stable and internationally competitive tax regime that meets OECD standards of transparency and information exchange.