As a Singapore-trained engineer and IT professional with 20+ years of experience, I’m bringing engineer-led governance to Guernsey — just as Singapore’s success has been driven by its technically skilled leaders (over 20% of their Parliament are engineers who apply rigorous problem-solving to policymaking). Married to a Guernsey woman and father to a young daughter, I’m campaigning for tax fairness (closing ultra-rich loopholes), true sovereignty (independent foreign policy), economic diversification (beyond finance), and crisis preparedness (food/energy security), recognising that many of Guernsey’s past policy shortcomings — from delayed infrastructure upgrades to inadequate emergency planning — stem from a lack of technical expertise in decision-making roles. My solutions, inspired by Singapore’s proven models but adapted to Guernsey’s needs, include a Fair Share Tax, vacant property levies, tidal energy development, and strategic food reserves, all aimed at building a more resilient, equitable, and self-sufficient future for every islander.
Manifesto
DAVID GOY
Tax Fairness • True Sovereignty • Economic Diversity • Food & Energy Security
Singapore-trained engineer bringing 20+ years of strategic problem-solving to Guernsey's most pressing challenges.
Married to a Guernsey woman since 2007 and proud father of a young daughter. This island has been good to my family - now, I'm determined to ensure it remains resilient and prosperous for all islanders facing the global uncertainties ahead.
“Engineer-led governance built Singapore's miracle. Guernsey deserves that same technical competence.”
KEY CREDENTIALS
Full Stack Developer & IT Engineer
BEng(Hons),
Dip(Distinction),
Dip(Merit)
PhD Researcher (Engineering)
University of Sydney, Australia
US Patent Holder
Vehicle Mgmt & Control System
Scholarship Recipient
Singapore Government, CSM & Australian National University
LESSONS FROM SINGAPORE: POLICIES THAT WORKED FOR A SMALL ISLAND
Fair Tax Systems
- Top 1% pay >20% effective rate vs Guernsey's <5%
- Closed tax loopholes progressively
- Still maintains world-class business-friendly reputation
Strategic Neutrality
- Avoids trade sanctions from geopolitical conflicts
- Attracts global capital seeking stable and neutral jurisdictions
- Uninterrupted food/energy imports during global conflicts
Smart Industrialisation
- Electronics exports hit USD 104B in 2023
- Manufacturing creates 2x more jobs than finance
- Contributes 17-20% of GDP
Crisis Preparedness
- 3-month food reserves (vs our week-long supply)
- 2-month fuel storage required by law
FOUR URGENT CHALLENGES FACING GUERNSEY
1. Broken Tax System
Guernsey loses millions every year to tax avoidance. Government is short of money, while the ultra-rich pay little to no taxes.
a. Ultra-Rich Loopholes:
- Taking "loans" from their own companies (tax-free cash)
- Labelling trust payouts as "capital" instead of income
- Overly generous income tax caps for the wealthiest
Meanwhile: Nurses pay 20% and public services face funding shortages
"GST should not even be a consideration until the wealthiest pay their fair share."
b. Housing Crisis:
- Home prices 9-17 times of median salary
- Many empty properties used as "tax-free wealth storage" by ultra-rich
Meanwhile: First-time buyers can't save for deposits.
2. Lack of Foreign Policy Independence
Guernsey follows UK directives without question (e.g., tech bans, sanctions, trade rules)
- UK banned Huawei due to US pressure. Guernsey followed UK and cancelled Huawei 5G - now we're stuck with obsolete 4G/3G
- We import 90% of goods but let others decide who we trade with
3. Finance Overdependence
40% of GDP depends on financial services, a sector highly vulnerable to global shifts.
- USD Dependency: Most deals in USD (Global USD use declining since 2018)
- SWIFT Vulnerability: Reliant on sanction-prone 52-year-old system (China's CIPS processes digital yuan at 1/50th SWIFT cost)
- CBDC Disruption: 134 countries developing Central Bank Digital Currencies (98% of global economy) (11 CBDCs already live - traditional banking faces major disruption)
4. Unprepared for Crisis
No adequate plans for food/energy to weather geopolitical shocks (Compared to Singapore's 3-month food and 2-month energy reserves)
- Food Vulnerability: 90% import-dependent - repeating WW2-era risks (No strategic reserves - empty shelves in 6-8 days)
- Energy Dependence: 99% foreign supply - no tidal energy despite strong currents (Blackout risk within two weeks if cut off)
"In WW2, Guernsey starved when blockaded. History will repeat if we don't act."
REAL SOLUTIONS FOR GUERNSEY
Concrete Policies for a More Secure and Fairer Future
1. Tax Fairness
a. Fair Share Tax:
- Tax justice act to target:
- "Stealth income" from entities with Guernsey property ties
- Trust distributions to HNWI beneficiaries with local properties
- Legitimate inheritances and pensions exempt
b. Vacant Property Levy:
- Monthly levy on homes vacant >6 months:
- Revenue funds affordable housing
- Encourage ultra-rich to sell/rent at prices islanders can afford
- Renovations and inheritances exempt
2. True Sovereignty
a. Direct Trade Negotiations
Chart Our Own Economic Course:
- Establish Guernsey Trade Offices overseas independent of UK
- Diversify direct imports beyond EU/UK
b. Strategic Neutrality
No More Automatic Alignment:
- Opt out of US/UK sanctions that hurt Guernsey
- Require States debate before foreign policy decisions
3. Economic Diversity
a. Alternative Industries
Create new, export-based economy:
- Financial incentives for new manufacturers
- Startup incubators
- Research and development
"Singapore kept finance but grew manufacturing too."
b. Airport Expansion
Catch Up to Jersey:
- Extend runway for cargo flights
- Add direct routes to more countries
- Attract logistics companies
“Manufacturers need air freight - our current setup rules them out."
4. Food & Energy Security
a. Food Security:
Learn from Occupation:
- Subsidise vertical farms, aquaculture and fishing
- Incentivise local food production
- Strategic food reserve
b. Energy Independence
Keep Island Functioning in Global Crisis:
- Invest in tidal energy (we have one of the strongest currents in Europe)
- Explore alternative energy generation
- Increase strategic energy reserve
KEY QUESTIONS ANSWERED
Who exactly has to pay the Fair Share Tax?
The Fair Share Tax is intended for high-net-worth individuals (HNWIs)...
Applies to: HNWIs with Guernsey property ties (Own/control property directly or through companies/trusts/third parties)
Does NOT apply to: HNWIs using only financial services (They're just customers of our finance sector)
Why this distinction?
- HNWIs with Guernsey property ties use States services (roads, infrastructure)
- They consume limited island real estate
- Financial services users without Guernsey property ties don't create these costs
Will taxing the ultra-rich really hurt Guernsey's economy?
This is Guernsey's most dangerous myth. The truth:
- Minimal local impact: Their wealth sits in a few asset managers who won't hire more staff regardless of portfolio size
- Zero productivity: They create no exportable goods, no meaningful jobs, and no innovative businesses
- AI disruption: Fund administration tasks are increasingly automated - human jobs are disappearing
- Housing harm: They hoard properties as "wealth storage," pricing out island families
- Tax injustice: While the States run short of money and nurses pay 20%, they exploit loopholes to pay little to no taxes
Why should Guernsey embrace Swiss/Singapore-style neutrality
Small states benefit most by being honest brokers to all sides...
- Economic survival: As a microstate, we can't afford trade sanctions or financial isolation from either East or West
- Global business hub: Neutrality attracts wealth (like Singapore's $4T asset management industry)
- Conflict insulation: Being non-aligned kept Singapore safe through Vietnam War, Cold War, and US-China tensions
- Food/energy security: Neutral ports remain open during crises to receive vital supplies