More than 160 representatives from across the business community attended Chamber of Commerce’s ‘3 Ministers breakfast briefing’ last week.
The Conister Bank-sponsored event at the Comis Hotel opened with introductions by Chamber chief executive Rebecca George; Chamber president Claire Watterson and Conister Bank’s group finance director James Smeed.
This was followed by speeches from Chief Minister Alfred Cannan, Deputy Chief Minister and Minister for Justice and Home Affairs Jane Poole-Wilson and Enterprise Minister Tim Johnston.
The Chief Minister gave an update about the Government’s short and long-term priorities, including the challenges regarding health care, an ageing population, and the risks and rewards that AI could bring.
However, he added that there were good reasons to be optimistic because of the opportunities created by the island’s level of autonomy as a Crown Dependency, and its long track record as a secure and stable jurisdiction.
He pointed out that the island was weathering the economic storms better than many other jurisdictions, and there were opportunities created by its USPs such as comparatively strong economic growth, plus the many advantages derived from being one of the safest places to live and work.
Looking ahead, he said his government was focused on turning economic opportunities into reality.
The Enterprise Minister spoke about policies and projects to support economic growth, including the Sustainable Finance Initiative, and the role played by the island’s UNESCO Biopshere status.
The Deputy Chief Minister explained the importance of ensuring the Isle of Man continued to be a safe and secure place to live, followed by a summary of measures being taken to strengthen border controls and fight the growing threats posed by organised crime.
She also spoke about the role that crime prevention and detection plays in maintaining the integrity of the island’s finance sector.
The Ministers then took part in a question and answer session – chaired by Chamber’s immediate past-president Kristan McDonald – featuring questions from the audience, plus some submitted online. Key topics raised included:
- Opportunities and challenges for economic growth
- Policies to attract inward investment and address aging population challenges
- Manx Care costs and private health care issues
- eGaming sector regulation and the role of the Gambling Supervision Commission
- Border security, immigration and related issues regarding infrastructure, housing, health care and education
- Air travel problems
- The island’s net-zero strategy
- Public sector final salary pensions
- Tax issues (including how taxation impacts younger, lower paid workers)
- Issues regarding opening business bank accounts
Chamber President Claire Watterson closed the breakfast briefing by thanking the ministers, guests and event sponsor for their support.
Mr Smeed said Conister Bank was delighted to sponsor the popular annual event and thanked the ministers for their willingness to engage directly with the business community.
Go to the events section of Chamber’s website at www.iomchamber.org. for more information.