Latest news with #HelenMiles
BBC News
10-06-2025
- Business
- BBC News
Jersey government undecided on banknotes with King's image
A decision on whether to use an image of King Charles III on new Jersey banknotes has not been made due to a "significant stock" of currency featuring the late Queen Elizabeth II, the government says. Bank of England notes featuring the King went into circulation in June 2024 and Jersey's treasury minister said the creation of new Jersey notes had been explored. However, Deputy Elaine Millar said stock levels of current notes meant no decision had been made on the introduction of new currency or what it would look like. "This approach ensures that unnecessary costs are avoided and that value for money is maintained on behalf of the public," she said. Deputy Helen Miles submitted a written question to the treasury minister asking for an estimated timeline for new notes and coins featuring the King. In response, Millar said the government held a "significant stock of banknotes featuring the portrait of Her Majesty Queen Elizabeth II". "This is due to the need for large minimum print runs, which are required to achieve value for money in a smaller jurisdiction such as ours," she said. The Government of Jersey has updated its banknotes twice in the last 36 years, once in 1989 and again in April, the States of Guernsey announced it would not include a portrait of the King on updated currency for the island. Millar said a decision on including the King on Jersey currency had not been made."While the introduction of a new series of notes has been explored, current stock levels are such that it shall be some time before any final decision is made on whether a new family of notes is required, and which design options may be preferred," she said.
BBC News
14-04-2025
- Business
- BBC News
Jersey government's spare funds to be retained amid tariff war
US trade tariffs and volatility in financial markets could lead to a change for Jersey's spare funds, a scrutiny panel Elaine Millar, Minister for Treasury and Resources, said savings in the island's Stabilisation Fund were "virtually exhausted".She said any spare funds may be retained in contingency rather than transferring it to savings because "locking it up may not be the best course of action".Corporate Services Scrutiny Panel chairwoman Deputy Helen Miles said it was concerning the island's financial buffer was depleted, adding: "Global volatility will impact our island and prudence is needed." Funding risks Miles said the minister had been transparent about the changes since the trade war began."If this leads to a global recession, then this will impact Jersey," she said."What is also concerning is that the Pillar 2 tax revenues, which had been earmarked to help finance the hospital, might not now materialise as expected which is increasing pressure on public funds to finance the build."She said the island may not be able to afford to finance regeneration plans, including the redevelopment of Fort Regent, as money would need to be borrowed in addition to the new hospital costs.
