Why are young people leaving Channel Islands?
"Jersey is very focused on the financial sector and this was something I didn't see myself going into," said said. "I'm very creative and I love design, so I thought there were a lot more opportunities for what I wanted to do in London."It is young adults like Ms Roberts the governments of Jersey and Guernsey are hoping to lure back to help reverse a declining population of 20 to 29-year-olds.Miss Roberts started a London-based restaurant recommendation app called Scran with her boyfriend after leaving university.She said many of her friends who still living in Jersey were working in the finance sector."In terms of other things, like if you want to start your own business, or if you want to go into the creative industry, I feel like more personally more work could be done in that area to try and keep people within," she said.
For others, the desire to fly the nest is a major factor.Jersey accountant Beth Rainbow, 28, said simply wanting to "experience life in a different city" drew her to the UK capital about three years ago."It came out of the choice of wanting to grow and seeing what is outside of Jersey and experience life in a different place," she said."It was just the natural next step for me."
Asked whether she would return to the island, she said: "In my mind I would love to come back home."But I think it's the expense thing."Jersey is obviously very expensive to buy a property to stay [and] the cost of living compared to some places in the UK."I can see why so many people are moving away."
Speaking in the States, Jersey's chief minister Lyndon Farnham acknowledged housing affordability was one of the biggest problems and it was vital "young people not only see a future for themselves in Jersey but can afford to build that future here".He said: "We are continuing to increase the supply of affordable family homes, releasing more land for development and redevelopment, and expanding schemes that help young islanders take their first step on the property ladder."
Eleanor Wallis, 25, who moved from Guernsey at 18 for university, said she came to enjoy the variety of opportunities in London."As someone who is interested in travel and other cultures, I decided that the next best place would be London, as a multicultural city with opportunities in international companies, where I could perhaps travel or move in the future," she said."Whilst I still like visiting Guernsey, I've come to enjoy the options afforded by a large city and many of my friends are now also living in or around London."
Chloe Price, 25, who moved to the UK from Guernsey, said cheaper rents off the island were a "huge benefit".Ultimately, however, she said she was drawn back by her family."We moved back home because we missed seeing our family so often and the cost of flying back to see them was a big expense," she said."In Guernsey, everything is within closer proximity - it's much easier to achieve a work/life balance here."
Jersey deputy Karen Wilson said it was important young people had the chance to "get off the island to explore other cultures and to have different experiences".However, she added it was equally important the island "help people value what we have here".
Miss Roberts said the quieter life offered in Jersey ultimately might be what helps draw her back."I love being by water and when I'm in London, I do really miss looking out to the sea," she said."I think it's good to explore the opportunities, but maybe in the future."It's obviously a great place to come back to and raise a family."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
2 hours ago
- The Sun
Drivers urged to used free Martin Lewis MoneySavingExpert tool to check if they can cut car bills by £1,000s
A FREE online tool can tell you whether you could save thousands of pounds on your car bills. MoneySavingExpert has launched a new tool that lets you see if you can save by refinancing your car if you're on a Personal Contract Purchase (PCP) or Hire Purchase (HP) deal. 1 You might not have heard about car refinancing before but it is essentially when you take out a new, cheaper loan or car finance deal to pay off your existing deal. Getting your car refinanced could save you hundreds of pounds in interest, or in some cases more than £1,500. Whether you're able to save will largely depend on the interest rate you're currently paying, as well as how much and how long you have left to pay. It can also depend on whether your credit history has improved since you took out a deal. How do you use the tool? You'll need to have some information to hand first. For example, you will need to know the type of car finance you have, how much you borrowed, what your monthly repayment is and the amount you'd need to pay at the end of the deal to own the car. You should also know when you took out the finance deal and the total length of time you took it out for. Plus, you should have an idea of your credit history. You don't need to give your exact score but you should be able to say whether it's "pretty good", "okay" or "not great". If you're not sure you can check your score for free using one of the three main credit reference agencies: Experian, Equifax and TransUnion. Five steps to get a better deal on your next car When you're ready, you can find the Car Finance Checker tool here: The tool will be able to tell you whether you're likely to save by switching. It will also give you an estimated settlement figure (the amount you'll need to borrow to pay off your existing deal). Before you can take out a new deal you'll need to settle your old finance agreement - and you can do this either using a loan or by using your new finance to pay off the old one. Check whether you can get a loan If it looks like you can cut your costs, you should check first whether a loan is cheaper. People who have plenty in savings should opt to use that first, but if you don't then it's worth looking at loans. The cheapest loans will generally give you a better deal than car finance unless it's already at 0% APR. Remember, your ability to access the cheapest loans will depend on your credit history - so if you have poor credit you might not be able to get them. You should then check whether the interest rates of the loans you're eligible for are cheaper than your current car finance deal. It's worth noting that you may not want to opt for a loan if you don't want to own the car at the end of the deal. If your current car finance is a PCP deal, it will have a "balloon payment" at the end - which is the amount you'll need to pay to own the car. Taking out a personal loan means you'll be borrowing the total amount of finance you have left to pay off, which includes the balloon payment. Therefore you'll likely see your monthly payments increase, even if the interest rate on the loan is cheaper and you end up paying less overall. Make sure the payments are affordable for you, and if you don't want to eventually own the car you're likely better off looking for a cheaper car finance deal. If you choose to go for a loan, you should get your settlement figure from your current car finance lender and make sure you can get a loan for that amount. Assuming you're accepted for the loan, you can use it to pay off your old car finance deal. You should be able to do this online or call up your lender to settle the payment. Your new lender should then set you up with a direct debit so you can make your new monthly payments. Consider a cheaper car finance deal If you can't or don't want to save with a loan, you can look for cheaper car finance. Some specialist car finance lenders will pay off your old car finance and get you set up with a new deal. You can compare new deals using Motiv or Experian - it may be worth checking both in case they have different lenders or rates. Again you'll need to get the settlement figure from your current car finance lender. You may be able to check this online or you might need to call them up and ask how much it would cost to settle your finance deal. When you contact the new lender, you will need to give them full details about yourself and your car. The new lender will pay off your old car finance lender for you, meaning they will be the new owner of your car until the finance is paid off. You can then pay your monthly repayments to the new lender.
Reuters
5 hours ago
- Reuters
EFG International posts record profit, anticipates better than expected 2025
July 23 (Reuters) - Swiss bank EFG International's (EFGN.S), opens new tab net profit rose 36% year-on-year to a record 221.2 million Swiss francs ($278.8 million) in the first half, boosted by a 45.4 million franc net contribution from an insurance recovery, it said on Wednesday. Excluding this one-time effect, profit grew by 8% to 175.8 million francs, the bank added in its half-year statement. CEO Giorgio Pradelli told journalists that EFG remained very confident about its ability to beat its ambitions for 2025, which include a return on tangible equity of 15-18%. For the mid-term market outlook the bank took a more cautious stance, with Pradelli citing ongoing uncertainties around geopolitics and tariffs, as well as the significant devaluation of the U.S. dollar against the Swiss franc. "We are mindful of the challenges that lie ahead," he said. EFG's net new assets totalled 5.4 billion francs in the first half of 2025, beating expectations. Despite strong inflows and a positive market performance, assets under management were down 2% at 162.3 billion francs from the end of 2024, reflecting negative foreign exchange effects of 11.7 billion francs, the bank said. ($1 = 0.7934 Swiss francs)
BBC News
7 hours ago
- BBC News
Channel Islands urged to tap into its talent to boost economy
People are being encouraged to return to the workplace across Jersey and Guernsey in a bid to improve both islands' economies by about £ comes after a PwC report warned of an escalating skills shortage due to ageing populations and low birth Yildirim, chief strategy officer at PwC Channel Islands, said the combination was "compounding" on a "small work force and a shrinking pool of talent" available across the islands."We've got talent right here on our doorstep that isn't going to put additional pressure on our infrastructure or our housing, let's tap into it," she said. "What we are seeing is a suboptimal level of employment, particularly in that over-50 age category," she added."Employers are telling us that having access to people and skills is the number one threat to their business growth." 'Boost economy' She said there were multiple reasons why people may not return to work, including childcare costs."For older workers, it's more around them often wanting flexibility that employers are either unwilling or unable to provide," she added."One of the other barriers, for people who have maybe been out of work, even for as little as 12 months, is feeling left behind by technology and AI."Ms Yildrim said the return of these workers could have "significant benefits" for businesses and the economy."We're talking an additional 7,500-plus workers across Jersey and Guernsey - translating into GVA value of £700m."Ms Yildirim said an "open-minded approach" was needed by employers to source local talent."For the community as a whole, we've got to call out ageism and tackle some of the stereotypes," she said. Deputy Kirsten Morel, Jersey's minister for sustainable economic development, said ministers were working to develop better childcare deputy said "personal choice" played a role in whether the older population decided to retire or to continue working."I think we can do a lot to make sure that there is no discrimination, that employers are welcoming to applicants of older age, but at the same time I think there is a lot of personal choice as to whether people of an older age actually want to work or not."He said he believed Jersey was "at a crossroads" due to its economy."We have an ageing population that is already creating very significant healthcare increases for us," he added."The cost of healthcare and social care is rising significantly - it's happening today."That puts us at the crossroads. We need to see productivity growth in order to pay for the care of an elderly population." 'Lowering birth rates' Deputy Tina Bury, president of the committee for employment and social security, said Guernsey officials had previously published a report which found non-participation in the workforce had increased "significantly" in recent years, particularly beyond the age of work and wellbeing strategy for 2025-2030 had emphasised the need to "enable a more diverse and inclusive workforce to maximise the island's working population in the face of lowering birth rates and an ageing demographic", she said."With a new political term now under way, the committee will consider how addressing the issues raised in these reports fits within its priorities, alongside other elements of its mandate," she added. Zoe Cousens, speaker on women in business, said older people faced a number of barriers in the workplace, including legislation which was put in place following World War Two "when actually 60 was a reasonable time to retire"."This has changed," she added."The legislations, the regulations in place to do with the workplace, haven't really caught up."As an older person myself... we have a lot of experience, a lot of knowledge."I think it's really disappointing that firms are missing out actually, for sure, on a huge benefit to their businesses by thinking that if you're over 60, that you're past it. "We are absolutely not." Retired Guernsey resident Trish Smith said she would have continued in employment if her health had been better."I did have a bad accident and I retired," she said."I think I would have gone on another few years because it was nice to be out in adult company."There are not many places that would let you do part time. It's very difficult really."
