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Crown Dependencies React To Brexit Result

by Jason Gorringe, Lowtax.net, London
27 June, 2016

In the wake of the UK's EU referendum Guernsey and Jersey have said that while there will be a period of uncertainty, they are well placed to weather the effects of this change.

Guernsey and Jersey are not members of the European Union (EU) and are not part of the United Kingdom (UK). However, Guernsey and Jersey are part of the EU customs territory, which allows for the free movement of goods. For most purposes, the islands are treated as third countries and outside of the EU.

The majority of the islands' trade is through the UK and this trading relationship is not in question, they noted. The islands have said they will negotiate with the UK to protect their interests in any exit agreement the UK negotiates with the EU.

Gavin St Pier, Guernsey President, Policy & Resources Committee, said: "Following the UK decision to leave the EU in this referendum nothing will change overnight in the relationships that Guernsey has with the EU, or the UK for that matter. I welcome the opportunity for debate in the States on how we will manage this transition to ensure Guernsey can seek to remain the same. We will be monitoring the economic impact of this significant constitutional change for the UK and we will be engaging with business, with the Committee for Economic Development, to understand this knock-on effect to our economy."

Jersey's Chief Minister, Ian Gorst, said Ministers will "be meeting the public around the island to discuss what this vote means for islanders and to outline the Government's plan to secure the best possible outcome for Jersey."

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