Jersey Senator Philip Ozouf 'will not resign' over fund row

Senator Philip Ozouf is the Assistant Chief Minister responsible for finance and digital

The politician responsible for a "disastrous" loan scheme has refused to back down over calls for him to resign.

Senator Philip Ozouf has been responsible for the £5m Jersey Innovation Fund since 2015 and was responsible for signing off on loans.

Deputy Sam Mezec of Reform Jersey has called for Mr Ozouf to resign from his role as an assistant chief minister.

It comes after a report by the comptroller and auditor general into the fund, describing it as badly run.

Auditor General Karen McConnell said the fund faced serious governance issues.

Auditor General Karen McConnell found a wide range of problems with the fund

It was launched in 2014 to help start-up companies in Jersey and gave loans to six companies until issues were raised early in 2016.

Mr Ozouf said he had no plans to stand down and the issues raised were "not his fault" as he was the one who got the fund suspended.

He said: "It is thanks to my work the fund has been closed and no more loans have been given.

"I wish these members who are speaking with their normal political rhetoric; I wish they would read the report."