Treasury Minister Dr Alex Allinson MHK attended a Chamber of Commerce event to give an update to the island’s business community following the recent Budget.

The event – which was sponsored by Appleby and Celton Manx – was held at the Manx Museum.

It began with a presentation by the Minister in which he summarised the main points of the Budget, with a focus on those of greatest interest to Chamber members and the wider business community. The organisation currently represents just under 500 organisations in the island.

This was followed by a question and answer session featuring questions from the audience, plus some submitted by those who were not able to attend.

Chamber sees the following as the key takeaways and talking points:

  • Acknowledging the economic challenges facing some sectors, the Treasury Minister highlighted the importance of attracting older workers and encouraging the long-term unemployed back into work.
  • He also emphasised the importance of encouraging greater secondment opportunities between government and the private sector, including a call for senior government employees to gain private sector experience and vice-versa
  • The Minister stressed that maintaining the island’s credibility on the international stage requires a joint effort between businesses and government. By working together, he said, both sectors can reinforce the Isle of Man’s position as a globally competitive and economically resilient jurisdiction

Chamber of Commerce chief executive Rebecca George thanked the Treasury Minister, guests and sponsors for supporting the event, and commented: ‘As always, we’re very grateful when Ministers and our members take the time to engage in forums like this.

‘It’s a great example of how Chamber works to encourage dialogue and collaboration between Government and the business community.’