Fiscal Stimulus Fund

The States Assembly agreed on 18 November 2020 to establish a £50 million Fiscal Stimulus Fund to support Jersey's economic recovery. The Fund is part of the Fiscal Stimulus Package announced in July 2020 and funds will be available in two tranches of £25 million each.

It is intended that stimulus funding is provided on a timely, targeted and temporary basis, and is aimed at smaller scale, agile projects of no more than £5 million per project and that would be expected to be completed by December 2021.

Tranche One allocations

Fiscal Stimulus Fund Tranche One allocation with descriptions

Tranche Two allocations

Fiscal Stimulus Fund Tranche Two allocation with descriptions

What does your project need to demonstrate

Applications for project funding need to have a sponsoring department. You should ensure that you have discussed any proposed project with a department prior to completing the Expression of Interest. Applications for project funding can be made by States Bodies, Arms-length organisations and not-for-profit organisations for those initiatives that are aimed at stimulating the economy such as:

• employment support
  
• business support
• skills training
• infrastructure and property improvements  
• maintenance and investment in productivity improvements, for example through technology
  

The project needs to demonstrate that it can:

• assist in reducing the fall in output and employment in the short-term
• provide opportunities to assist in reducing the damage to the economy in the medium to long-term
  

Fiscal Stimulus Fund FAQ's

Timeline

Application process

Stage One: Expression of Interest

The first stage of the application process is the submission of an Expression of Interest using the link below. The online form gives guidance on completion within each section. This form needs to provide enough information for a decision to be made for the next stage of evaluation. If you need further guidance on the completion of the online form email Fiscal Fund.

Expression of interest form explanation

Closed.

Stage Two: Full Business Case

If an Expression of Interest is accepted, the applicant will be asked by their sponsoring department to submit a full Business Case for their project. The template for the Business case can be requested by emailing Fiscal Fund.

Stage Three: Consideration of all Business Cases

All documents will be reviewed by the Fiscal Stimulus Oversight Group (FSOG), who will make a draft recommendation on each project.

Stage Four: Oversight of draft recommendations

The draft recommendation will be reviewed by the political members of the Economic Recovery Political Oversight Group (ERPOG) and the Corporate Services Scrutiny Panel (CSSP) who will provide their comments to the Minister for Treasury & Resources.

Stage Five: Minister for Treasury and Resource

The Minister for Treasury and Resources will consider the recommendations of the FSOG, along with the comments of the ERPOG and CSSP, and will decide which applications are approved.

The Minister will notify the Council of Ministers of her final decision on the projects.

Approved projects will be allocated funds in the form of a grant. Guidance on grant awards can be found in the public finance manual.

If you have any queries about the Fiscal Stimulus Fund application process, email Fiscal Fund.

Group membership

FSOG members: Treasurer of the States, Chief Economic Advisor, Group Director for External Relations and an independent member appointed by the Minister for Treasury and Resources.

CSSP members: Senator Kristina Moore, Deputy Steve Ahier, Deputy Jess Perchard, Connétable Karen Shenton-Stone and Connétable Richard Vibert.

ERPOG political members: Chief Minister, Minister for Treasury and Resources, Minister for Economic Development, Tourism, Sport and Culture, Minister for External Relations, Minister for Education.