Once the UK leaves the EU, Jersey's approach to external trade will need to continue to adapt, and that is why Jersey is building capacity and investing resources in this field.
Despite the underperformance of 2018 the underlying performance of UK banks in terms of their day to day business on a domestic level hasn’t been that bad, with decent profits in 2018, with the trend continuing into the first half of 2019.
"Some companies import products from the United Kingdom at no additional cost, but now they don't know how the cost of customs or tariffs will affect them," he said.
S&P Global Ratings calculated in the spring that Brexit had, by last April, cost the U.K. economy $86 billion.
We were no longer part of what was essentially an economic community, but instead members of a full-blown political union with large budgets, a foreign relations component and subject to huge tracts of regulation on everything from clinical trials to VAT.
The Chancellor will announce a package of measures to support the next generation, promote economic growth, and prepare for a post-Brexit future.