Major boost to construction industry

Mon, 03 Mar 2014

The construction industry has received a timely boost thanks to the development of a number of properties for wealthy individuals.

The latest quarterly economic report to the Council of Ministers has revealed that six recently approved properties carry a combined value of £30 million.

The boost to the building industry is the equivalent of a £20 million housing project.

Government estimates that wealthy entrepreneurs living on the Island are responsible for creating at least 360 jobs, paying wages of more than £27.5 million, with ITIP and National Insurance contributions of £6.65 million.

Chief Minister Allan Bell says the importance of their contribution to the Island cannot be understated: