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  • Update - Belle Greve Sea Wall

    Wednesday 26 November 2014

    Environment Department Response to Media Enquiry from BBC Radio Guernsey.

    BBC Radio Guernsey Enquiry:

    I was hoping I may be able to get confirmation about the work at the Belle Greve Sea Wall. Today we spotted diggers moving shingle from the beach but we couldn't tell what it was for. I have attached a picture to this email.

    Conservationist Vic Froome says he believes it is to move the shingle to the bottom of the wall to create a slope, which would dissipate the strength of big waves against the wall and prevent damage during storms. He believes this is a very smart move, but would like to know that the area of beach where the shingle is being moved from on isn't being too disrupted by the work.

    Would it be possible please to provide us with a couple of lines to confirm what the seabed is being moved for and whether checks have been done to check the work is safe for the environment?

    Environment Department Response:

    A small volume (10 dumper loads) of shingle has been relocated from a section of beach near to the slipway to the base of the new rock armour.  It has been used to replenish existing beach shingle which was previously dragged away from the rock armour location at the start of the works to provide access to the construction area.

    Using the existing shingle which has been displaced by recent tide movements is an economic and environmentally balanced solution to the replenishment of the works area.  There is minimal disruption to the natural state of the beach in moving this volume of shingle.

    Contact Information:

    Environmental Services Unit
    Environment Department
    Tel: 717200

     

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  • Policy Council working to create and clarify opportunities for local businesses

    Tuesday 25 November 2014

    The Chief Minister and members of the Policy Council have set out opportunities for commercial land use in Guernsey. The move comes as progress continues to be made on the Island Development Plan.

    Deputy Jonathan Le Tocq, the Chief Minister said:

    "The Island Development Plan remains a high priority, as among other things it will clarify the future use of derelict vineries and glasshouses. However even before the Plan is finalised we have identified a number of opportunities for our Island's small businesses to find industrial space and continue to grow.

    "Having discussed these issues with the Environment Minister and the Commerce and Employment Minister, it is clear to me that there are some immediate potential solutions for our local small businesses which should be highlighted and reiterated, so that hopefully those businesses can take advantage of them."

    Deputy Yvonne Burford, Minister for the Environment Department said:

    "The Environment Department continues to work closely with the Commerce and Employment Department to unlock opportunities for our Island's businesses.

    "For example our Department already has Policy EMP7 in the Urban Area Plan and Policy RE7b in the Rural Area Plan in place. The policies for industry were widened significantly in 2010, but these have been little used, and are therefore perhaps little known. But this Policy allows for changes of use for redundant glasshouse sites subject to relevant criteria being met. Working with the Chief Minister and the Commerce and Employment Minister, I want to ensure that these Policies are better-known and better-used.

    "In addition to that, three vinery sites were identified and allocated for industrial development under the current plan, but only one of those sites has had applications made and any development occur. As a result there are two sites still available in the rural area which could be suitable for development by small businesses."

    Deputy Kevin Stewart, Minister for Commerce and Employment said:

    "There are existing solutions for our small businesses, and I am pleased to work with the Environment Minister and her Department to highlight these opportunities for our Island's small businesses.

    "We have also discussed the concerns raised about lack of construction in housing, which will be an important driver of continued growth. Over the last two years permissions have been granted for around 700 units of accommodation and the States target number for permissions is 300 per year. In reality only around 150 have been built, which is well below the level possible as extant permissions remain.

    "Commerce and Employment will be working with our construction sector and other Departments to investigate the reasons why so many have not been taken up. We will be looking to find ways to encourage development where permissions have already been granted."

    Deputy Jonathan Le Tocq, the Chief Minister said:

    "The Policy Council remains focused on supporting economic growth on the Island. As I said at the Chamber of Commerce last week, we cannot be complacent and we must continue to work hard and be flexible in our approach in order to do that.

    "Having provided certainty for the Open Market earlier this year, we are also working with SMEs and the construction industry to highlight the potential for commercial land use. What this demonstrates is that even before we conclude major pieces of work such as the Population Management Regime and the Island Development Plan, we are working hard to create an environment to provide commercial opportunity and growth, and we will continue to do so."

    ENDS

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  • Treasury & Resources progress preparations for States of Guernsey Bond

    Monday 24 November 2014

    The Treasury & Resources Department has progressed preparations for the issuance of an inaugural States of Guernsey Bond and announces a series of fixed income investor meetings commencing 27 November 2014

    Not for distribution, directly or indirectly, in or into the United States, Australia, Canada, Japan or any other jurisdiction where to do so would be unlawful.

    The States of Guernsey through its bookrunners Barclays, Deutsche Bank and RBC Capital Markets has announced to the market its intention to issue a long dated Sterling benchmark bond subject to market conditions.

    A series of investor meetings will be held in Guernsey, London and Edinburgh commencing 27 November 2014.

    On 29 October 2014 the international credit rating agency, Standard & Poor's, confirmed they had assigned an 'AA+ / A-1+' stable outlook credit rating to the States of Guernsey.

    Deputy Gavin St Pier, Minister for Treasury and Resources, said:

    "We are delighted to be working with world-class financial institutions that have a strong Guernsey presence.

    "The proposed bond issuance is not about raising money to spend. It is about refinancing more cost effectively our public sector trading entities, all of which have income streams to support their own borrowings. It will help us make sure our assets work better for us, and ensure that the borrowing we have is consolidated and done in a way that gets a better deal for the Island."

    ENDS

    Disclaimer:

    This communication (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful. The securities referred to above have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("Securities Act"), or the securities laws of any states of the United States or other jurisdiction, and the securities may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit, of U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws.

    This communication is directed solely at (i) persons outside the United Kingdom, (ii) persons with professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 as amended (the "Order"), (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order and (iv) persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons in (i)-(iv) above being "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with relevant persons. Any person who is not a relevant person should not act or rely on this communication.

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