Media release from the States of Guernsey 17 March 2022:
All employers that operate in Guernsey and Alderney are being made aware of a new annual Economic Activity Return.
Around 500 employers will be selected to complete the return each year. Those selected this year will be contacted directly in April via a letter. The Return can be completed online or in digital or paper copy, but completing it is a requirement under law for all selected employers.
The Return asks employers to provide information relating to certain types of incomes and expenditures over the past three years and forecasts of those for the next two years. This information will help improve the accuracy of economic statistics including Gross Value Added (GVA) and Gross Domestic Product (GDP).
Helen Walton, Head of Data and Analysis, said
“By asking directly for the information needed for these national statistics, we will be able to further improve the accuracy of the figures we produce and provide to Islanders. Over the past few years, we have made all the improvements we could make without seeking any data on top of that which is already provided to the States. But, like many other jurisdictions, we are now seeking some more details directly. High quality information and forecasts are needed to inform the decisions made by government.
Last year we trialled the Return form on a voluntary basis and have taken on the feedback we were given and actioned it wherever possible. Now we’ve put the refined Return form and guidance online, so people can see what will be expected ahead of being asked to complete a Return. This includes information on how we will select the sample of employers each year – some will be selected every year, but others will be selected in rotation.
Completing the Return, if selected, is a legal requirement. But the Return can be completed in a range of formats and we will provide support as needed to those that are required to complete it.”
For more information go to www.gov.gg/economicactivityreturn.