Coronavirus: Guernsey's 'revive and thrive' economic recovery
A "revive and thrive" recovery strategy from the coronavirus pandemic has been published by the States of Guernsey.
The framework outlines short-term actions and the guiding principles the government will use to aid recovery. These include investing in infrastructure and regeneration, reviewing work permits and examining travel links into the islands. There will also be a review of taxes and public service provision, the document lays out. The strategy is due to be debated by deputies next week. Currently the States has agreed to invest up to £650m, with a £225m short-term borrowing arrangement already agreed. Economic modelling has projected a loss of about £300m to the economy in 2020, 8% of the total, which could take 10 years to recover from without investment, the report lays out. Four key areas will be addressed in the short term: 'Bold and brave' The report also sets out guiding principles of developing a sustainable economy, improving health and care services and ensuring the entire community benefits from recovery. Another foundation to recovery identified in the report is developing a clear "fiscal strategy". This includes evaluating the "structure of taxes", which could include cuts, rises or new ones entirely, as well as examining the "size and cost" and improving the efficiency of public services. Lyndon Trott, vice president of the Policy and Resources Committee, argued the recovery offered "enormous strategic opportunities". Deputy Trott said: "If we are not to waste those opportunities, we are going to need to be willing to be bold and brave and back our plans with investment."