Ozouf's resignation confirmed

Friday 20 January 2017

The Chief Minister has accepted Senator Philip Ozouf's decision to "step aside" from his role as Assistant Chief Minister responsible for financial services, digital, competition and innovation.

His department confirmed early this afternoon that Senator Ian Gorst had now received the letter from Senator Ozouf and had accepted it.

It follows the emerging scandal of the Jersey Innovation Fund, for which Senator Ozouf had political responsibility, from at least January 2016 - the Comptroller and Auditor General, who wrote a damning report into the Fund's set-up and management, says it was even earlier than that. 

The Fund was set up in 2013 to provide funding to businesses, and help diversify the economy after the last recession. But it's now emerged that up to £1.4million of taxpayers' cash is now overdue from various loan repayments by the companies who borrowed the money, and it's possible it won't be repaid. 

In the States Chamber this week, Senator Ozouf said he would write to the Chief Minister offering to "step aside" from his role as Assistant Chief Minister while a review into whether political failings contributed to the Fund's demise was conducted. It's not been made clear if after the publication of that report, Senator Ozouf will seek to return to his previous role. 

The Chief Minister said he would confirm this week who will take over Senator Ozouf's responsibilities.