Frequently asked questions
What is the Economic Recovery Programme?
The Economic Recovery Programme is a future focussed, fast paced stimulus programme which will invest in projects which support the development of the Isle of Man, accelerate capital projects, retrain and skill our people and stimulate local demand.
The Economic Recovery Programme is driven by a group of political members, with representation from senior Government officers, and meets every three weeks, or more frequently if required to consider papers and strategic direction for the programme. It seeks to capitalise on agile, rapid decision making processes that were adopted during the coronavirus pandemic in order to drive progress across Government.
Members of the Economic Recovery Group are:
- Alfred Cannan MHK, Treasury Minister
- Laurence Skelly MHK, Minister for Enterprise
- Ray Harmer MHK, Minister for Policy & Reform
- Bill Shimmins MHK, Member for Treasury
- Lawrie Hooper, MHK, Member for Enterprise
What will the Economic Recovery Programme do?
The immediate focus of the Economic Recovery is a 6 – 12 month stimulus programme to provide rapid and tangible actions, but there are further work streams that will ensure this work will positively impact the long-term success of the Isle of Man well into the future.
Why do we need an Economic Recovery Plan?
The COVID-19 crisis has given us the unique opportunity to capitalise on the swift and speedy collaborative response witnessed in the early days and weeks of the public health crisis. It is important that we have a plan in place to outline the steps we propose taking to guide us out of economic uncertainty and towards an environment, through innovation and collaboration, where the economy thrives.
The Economic Recovery Plan not only details how we will support our people and our businesses in the event of a further wave of coronavirus, but it also sets out ambitions aims and outcomes to ensure we are able to grow as a result of the challenges the pandemic presented.
What governance is in place for this programme?
The Economic Recovery Programme and its six work streams have appropriate governance frameworks, as well as its own programme office to oversee administration and co-ordinate the various pieces of work.
Each of the work streams have Terms of Reference documents.
How was the Economic Recovery Programme formed?
A series of workshops was held with industry in June 2020 with a focus on the future vision of the Isle of Man. Over 7 workshops with more than 70 members of industry participating, 220 ideas were generated and five key themes were proposed for the future focus of the Isle of Man:
- Save Haven
- Attractive to people
- Attractive to business