The economics function provide strategic advice to Ministers and the Senior Management Team concerning the state of St Helena’s economy, the economic impact of decisions, and future prospects concerning sustainable economic development. The outputs of the Economics function include:
- Macroeconomic inflation and revenue forecasting
- State of the Economy reporting as part of the Sustainable Economic Development Plan progress updates
- Providing economic impact advice for Executive Council business
- Providing a strategic steer and policy advice relating to economic growth
- Enabling private sector development
- Providing economic input into regulatory issues
- Drafting and updating the Sustainable Economic Development Plan, Labour Market Strategy, Minimum Wage Policy and other policies relating to sustainable economic development, and oversee their implementation.
- Supporting the reform process by assisting the development of tax, immigration, welfare, communication, land and investment policies, where they support economic development in St Helena or financial sustainability of the St Helena Government.
- Monitoring and updating the Minimum Wage as part of the Employment Rights Committee.
- Developing outline and detailed business cases for the Island’s Economic Infrastructure Programme (Capital Programme)
The economics function work to the strategic steer, as per the Sustainable Economic Development Plan, to increase exports and reduce imports in order to increase wealth and local economic activity. Economic performance is sensitive to changes in population, and therefore the strategic steer, as per the Labour Market Strategy, is to work towards increasing the working age population living and working on St Helena.
For more information contact Damian Burns, Head of Sustainable Development on: damian.burns@sainthelena.gov.sh