Vexed Bermoothes » Jersey http://www.vexedbermoothes.com Blustery Opinions From Bermuda Tue, 31 Jan 2012 13:38:52 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Prudent http://www.vexedbermoothes.com/prudent/ http://www.vexedbermoothes.com/prudent/#comments Mon, 08 Jun 2009 09:39:01 +0000 Caliban http://www.vexedbermoothes.com/?p=2725 Like Bermuda, the island of Jersey is facing some difficult financial times.  The financial services sector, which provides 30 percent of Government revenues and directly employs nearly 15 percent of the population, is on the rocks.

So what’s the difference?

  • Jersey has no significant debt.
  • Jersey also has two “rainy day funds” – the Stabilisation Fund and the Strategic Reserve – into which they have stockpiled nearly $1,075,000 since the heyday years of 2006 and 1986, respectively.

Bermuda brags about its financially prudent Government.  But, by comparision…

In recent years, Bermuda enjoyed some unexpected windfalls in tax receipts.  Rather than being saved or applied to major capital projects, they were spun away on ill-disciplined current spending.

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