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Our Domestic Economy

6 - 12 month programme to:

  • stimulate local spending
  • support tourism, hospitality and the domestic sectors
  • support jobs in a thriving domestic economy

Our Domestic Economy

The 'Our Domestic Economy' programme is being led by Peter Boxer, Head of External Relations for Cabinet Office and has been created to help businesses that serve our domestic economy to recover from the lockdown through projects that incentivise spend, stimulate demand in local businesses and breed confidence. In doing so, the programme seeks to ensure that Manx businesses feel supported and nurtured, encourage changes in consumer behaviour from off-Island to on-island spend and contribute to a thriving local economy.

The headline objective of the programme is to protect jobs in the local economy.

Projects progressed through ‘Our Domestic Economy’ to date are:

Project

Aim

Funding amount

Approval date

Status

More Information

Super Manx Bank Holiday

Supporting the delivery of a range of events over the Super Manx Bank Holiday at the end of August to promote local spending opportunities

N/A

30 July 2020

Completed

Further information

Shop local & Staycation campaign

In conjunction with Business Isle of Man, encourage active local spending in the wake of coronavirus restrictions and contract independent supplier to create short ‘LoveIOM’ campaign and materials

£75,000

30 July 2020

In Progress

Further information

Domestic Events Fund

To provide finance for local initiatives either by registered charities, associations or local authorities that promote local businesses and consumer confidence.

£500,000

30 July 2020

In Progress

Further information

Domestic Economy Hospitality Stimulus

To support local hospitality sector through scheme or promotion in conjunction with Restaurant Association

£40,000

25th January 2021

In Progress

 

LoveIOM Card

To develop a voucher or digital currency platform to provide targeted incentives to consumers to spend in sectors that require assistance

N/A

 

In Draft