So giving the Jersey Telecomms boss " LOADS OF MONEY " by way of an extra bonus of £118,000 is right says Senator Ozouf. Is it not interesting that the States Treasurer Laura Rowley is off, gone, resigned. Now Senator Ozouf would not be cooking the books would he ? With an election just three months away good figures are essential for the man in charge of the states cheque book. Has the Treasury Minister upset the number one civil servant in charge of the treasury. Of course not,
let us remember that Senator Ozouf has let it be know he is a qualified accountant.
JEP.JT head 'deserved his £118,000 bonus'A six-figure bonus handed to the boss of publicly owned JT was fair, given the work that he has done, according to the Treasury Minister.
Senator Philip Ozouf faced tough questions during Monday's States sitting after the JEP revealed earlier this month that the £118,000
bonus paid to JT chief executive Graeme Millar last year was on
top of his £190,000 salary.
Following a question from St John Constable Phil Rondel, Senator Ozouf praised the work Mr Millar was doing and said that the ‘framework’ for the chief executive’s bonus was directly linked to financial results.
Earlier this month, JT posted pre-tax profits of more than £33m, prompting Mr Millar to declare that the JT group had had its best ever year.
This was despite the fact that the telecoms company faced strong criticism late last year following the introduction of a new billing system which some customers complained was difficult to understand.
So there you have it, JT made a gross profit of £33 million er no - actually - becuase there is no mention of the £40 million grant given. Should any other private business have secured £40 million funding for inward investment, they would have had to pay it back with a big lump of interest which would have [ you have guessed ] affected their profits. Nothing is shown in this profit line becuase you the tax payer gifted the money to this stand ( not quite so alone with Ozouf's funding ) alone arms lenght independent states trading company.
The same goes for SoJDc receiving help with a loan for £13 million to transfer the needed Esplanade car park underground, into an inverted toxic dump in the ground. At least it is called a loan [ another stand - not so alone ] by a pet trading company who will be tasked with at least paying it back, when and if it ever makes a profit.
What you are seeing folks, is accounting Jersey Style by Treasury Minister Senator Ozouf.
One is starting to understand why highly respected Big Chris Swinson ex Comptroller and Auditor General, Mr Flowers ex property services ( Lime Grove fiasco ) and now States Treasurer Laura Rowley resigned. Respected professionals with integrity that want to maintain their credibility.
It is probably just me, but are some members of Jerseys Government " shafting Jersey's reputation Internationally " rather than the long suffering islanders that call Jersey their home ?
More information here,Allegations mount over States Treasurer's resignationhttp://www.bailiwickexpress.com/jsy/news/allegations-mount-over-states-treasurers-resignation/#.U8Yu1Fa9vwI