The Institute of Directors (IoD) is calling for the States of Guernsey to back the borrowing proposed by the Civil Contingencies Authority to kick start the economic recovery and support businesses through the covid-19 pandemic.
Alongside ‘bold’ actions such as borrowing, the IoD is re-stating its position on the need for changes to the mechanisms of government.
John Clacy, Chair of the IoD’s Guernsey branch says: ‘What is becoming self-evident is that the Covid-19 health crisis is becoming one of the most challenging economic crisis we have ever encountered.
‘Extraordinary measures will be needed to counter this and we urge the States to be bold and back the proposals.
‘But having the money is not enough - the States also need a plan and have the ability to deploy the money not just in reactive countermeasures but in a way that will help stimulate the economy through strategic infrastructure and other investments as we start the recovery phase.
‘New mechanisms and governance structures are needed to allow these funds to be deployed to their best effect - if you need any evidence of this just look at the latest flip-flop decision on the tank wall.’
The IoD is seeking members’ views on the latest economic proposals and measures required to support business in the current covid-19 crisis. The short survey can be completed by members here.