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Guernsey home to first ever commercial deployment of blockchain for private equity
Wednesday 22 February 2017

Northern Trust is using its Guernsey operation to launch the first ever commercial deployment of blockchain technology for the private equity market.

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Implementation of Same-Sex Marriage Legislation
Tuesday 21 February 2017

Following the registration of the Same-Sex Marriage (Guernsey) Law, 2016, in January, two Ordinances have been drafted, which are required in order to commence the Law and make necessary changes to other Guernsey legislation in preparation for its introduction.

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Salerie Junction Post-Implementation Review
Friday 17 February 2017

A post-implementation review into the Salerie junction improvement project has been published.

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Commodore Clipper Portsmouth 16:00 19:00E 


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Commodore Clipper Jersey/Portsmouth 19:35  
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Flybe13:002017-02-22JerseyBE6419Approx 1300


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Public finances returned to surplus in 2016 - for the first time since 2008.

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Deputy Gavin St Pier, President of the Policy & Resources Committee, updated the States Assembly this morning on the year-end financial position, comparing that public finances ended 2016 with a £15m surplus.

In June last year, a budget deficit of £10m to £15m was estimated for 2016. At that time, Deputy St Pier outlined a series of measures put in place to seek to balance the position by the end of the year. The measures included a series of expenditure controls put in place by States of Guernsey Chief Executive Paul Whitfield, including control of all vacancies; a review of overtime usage; closer control of the use of consultants; cancellation or deferral of non-pay expenditure; and the re-prioritisation of routine capital expenditure.  The Policy & Resources Committee also announced its intention to limit any further use of the Budget Reserve in year, and that it had approached the States Trading Supervisory Board to request that it consider making a return of surplus capital to General Revenue in 2016.

The measures had the desired effect and had a material impact on the year-end position. In addition, an improvement in economic conditions has also contributed to a better outturn.

The net result is that, subject to final year-end adjustments and audit, the outturn for 2016 is a surplus in the region of £15m, representing a £30m improvement on the worst case set out in June.  

Read the full statement given by the President of the Policy and Resources Committee, Deputy Gavin St Pier, by following the link in the 'useful pages' section on this page.

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Useful Pages