From Advocate Philip Sinel.
I AM prompted to write following Clifford Wilson’s letter (JEP, 14 November), in which he commented in effect upon the absence of realism being exhibited by many in Jersey towards the recession.
Jersey has hitherto ridden recessions better than its UK counterpart. However, I think that some euphoric comments reported by you in relation to the recession are irresponsible.
That there is a world recession is unarguable, and that the recession will follow here is just as unarguable. Clifford Wilson is an estate agent. He has, from his own perspective, picked up all the warning signs in relation to our economy.
You have published a number of editorials in relation to house prices. If you look at the volume of transactions in the Royal Court, as I did last Friday, you will note that the volume is significantly depressed. This is going to have an effect across the board, if only in relation to those whose livelihoods depend upon the volume of property sales.
It is not responsible to deny that the recession is going to have adverse consequences in Jersey. People need to take such prudent steps as they can. We cannot rely on the tooth fairy to bail us out.
79 Bath Street,