Maintenance of Jersey’s credit rating (P.18/2022): Amendment

Information about the publication of Ministerial Decisions

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision
providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made on 15 March 2022

Decision Reference: MD-TR-2022-186		Public
Subject: To lodge an Amendment to P.18/2022: Maintenance of Jersey’s credit rating
Report Title: Amendment to P.18/2022: Maintenance of Jersey’s credit rating		Public
Decision(s): The Minister decided to lodge an amendment to Deputy K. Morel's proposition P.18/2022: Maintenance of Jersey’s Credit Rating.
Reason for Decision(s): The Minister acknowledged the intention and spirit of Deputy K. Morel’s Proposition but felt it was important to lodge this amendment to clarify the proposals and provide States Members with greater insight into some of the points made. In essence, the proposals being made by the Deputy were already undertaken and formed part of the overall fiscal risk assessment of borrowing proposals. Most of the information, at a summary level, was already available but the Minister acknowledged that greater transparency was always useful.
Resource Implications: There are no immediate financial or manpower implications for the States arising from this amendment. In the event that independent advice is required in relation to the impact of future borrowing on the States’ credit rating there is likely to be a cost for such advice. This would need to be incorporated from within existing budgets or provided for with the Proposition seeking approval of the debt.
Action Required: The Greffier of the States to be requested by the Head of Financial Governance to arrange for the Amendment to be lodged ‘au Greffe’ for the States sitting that commences on 29th March 2022.
Signature:	Signed By: Minister for Treasury and Resources
Date Signed:	Date of Decision (If different from Date Signed):