20 March 2009
The Minister for Treasury and Resources has made the following statement on the response to the Comptroller and Auditor General's report on Incinerator purchase exchange risk:
“The States were told that the exchange risk would be eliminated on the signing of the Incinerator contract last year. Late last year, it became clear that the exchange rate risks had not been eliminated, resulting in potentially increased costs to the States.
“In January I announced that I had asked for an independent report on the Treasury Department’s handling of whole matter. The Comptroller and Auditor General has today published his report.
“It is clear that there has been a failure in the Treasury department. The States of Jersey Treasury has a reputation for the highest standards and these findings are very disappointing. I am not willing to accept poor performance.
I take full responsibility for ensuring standards are strengthened in the future.
“I can also confirm I have now instigated immediate disciplinary action in relation to departmental officers’ failures. This process is being conducted with the States Employment Board in accordance with clearly laid down procedures.”
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