Jersey advised to save an extra £600m in case Brexit disrupts financial sector

Jersey should cushion its 'rainy day fund' with an extra £600m as a precaution since the fall-out of Brexit and the possibility that the City of London could become an offshore competitor jeopardises the jurisdiction's finance industry. That's the warning of a leading group of economists who advise Jersey's government on its financial plans. The Fiscal Policy Panel warns about the potential fragility of the Jersey economy because it was so heavily reliant on the finance industry, adding that precautions should be taken now because the economy was still strong, The Jersey Evening Post ...