The Government has replied to what it describes as the “continued attacks” by Roy Clinton on Sir Joe Bossano’s “commitment to transparency” in his message to Savings Bank depositors. 

A statement continued: “Sir Joe's letter to Savings Bank depositors is, in fact, clear evidence of his commitment to transparency and accountability to those depositors, something which Mr Clinton obviously dislikes as it flies in the face of his constant, untrue, attacks on the Government. 

“As the Minister with responsibility for the Savings Bank, Sir Joe, rightly, sees it as his duty to inform depositors of matters that directly affect their financial interests. The message sent to the depositors cannot, therefore, be seriously described as dissemination of party-political material. 

“It is, in fact, simply factual information on the state and direction of depositors’ investments that is unobjectionable by any objective standard. It is in addition to the monthly disclosure of the information on the Savings Bank’s investments which are provided in Parliament each month, amounting to more transparency and more disclosure than any other Bank provides to its depositors. 

“Indeed, the reference to the National Economic Plan, including the Rooke Nursing Home site, addressed concerns that depositors may have had and provides clarity on the projects funded by the savers’ money, which is a matter of clear and direct interest to those depositors. Sir Joe, in the discharge of his Ministerial responsibilities, considers that it is crucial for depositors to be aware of how their funds are being utilized and the progress of the initiatives they are supporting. This is, in fact, a demonstration of the constant disclosure of the investments of the Savings Bank which is without precedent in our history and is therefore clearly embarrassing for the GSD as it drives a coach and horses through their repeated campaign to suggest the contrary. 

“Moreover, the Ministerial Code is designed to prevent the misuse of official facilities for party- political purposes which is NOT what has happened in this case. Discussing the economic strategies and their implications for the Savings Bank does not equate to party-political propaganda. It is considered by the Government to be an essential part of the dialogue between the Government and its depositors in the Savings Bank, ensuring that the latter are well-informed and able to make informed decisions about their savings. 

“Sir Joe’s message delivers on this principle, aiming to shed light on the economic realities and decisions that impact the institution and its depositors. This is what Sir Joe has responsibly provided. It is a reflection of his dedication to the people he serves, the depositors whose money the Savings Bank manages and the principles of transparency and good government that he and the Government are committed to.”