The world’s circumstances have changed fundamentally with the arrival of COVID-19 which has become a major threat to global wellbeing and economic prosperity.
The extraordinary measures taken by governments around the world in response to the threat posed by COVID-19, have inevitably and significantly altered any forward-looking statements and hence, in publishing its 2019 annual report today, the Commission has decided to remove many of those statements.
With regard to the immediate future, the Commission’s Director General, William Mason, said:
“We continue to assist the government in Guernsey in protecting the financial stability of the Bailiwick and its consumers. Considerable changes to the Commission’s rules and practices have already been announced to help all parties cope with this epidemic and the Commission will consider further actions as the need arises.”
Chairman of the Commission, Drs Cees Schrauwers, echoed Mr Mason’s comments and added:
“The Commission is committed to protecting the Bailiwick’s financial health through this pandemic and will contribute to the best of its ability to restoring and improving the Bailiwick’s economic wellbeing.”