A newly created policy campaign group has launched a ‘Growth Pledge’, urging businesses, residents and all MHK candidates to commit to prioritising economic growth.
Growth IOM says this is as the island faces a serious and worsening economic downturn.
The group says the Manx economy has contracted by 7.4% across the last two years of available data, with young people leaving, key export sectors shrinking and entry‑level opportunities falling sharply, down 30% across the economy and 50% in white‑collar roles.
The decline of the e‑gaming sector, it says, has left hundreds of skilled workers without jobs and reduced a major source of tax revenue.
Continued Decline
Growth IOM warns that continued decline will directly affect public services, noting that two‑thirds of government income comes from export industries including financial services, e‑gaming, manufacturing and tourism. It argues that bins, buses, pensions, schools and healthcare all rely on the strength of those sectors.
The organisation says the island needs a clear political commitment to growth, and that the pledge is designed to channel that focus.
It also plans to launch a series of growth debates in the coming weeks to discuss how best to rebuild the economy.
Isle of Man Chamber of Commerce Chief Executive Rebecca George said economic growth “must be an urgent priority” for the next administration, adding that Chamber members are deeply concerned about current trends and welcome efforts to broaden the debate.
Growth IOM describes itself as a non‑partisan organisation dedicated to explaining the role of growth in living standards and public services, and promoting policies that support a stronger economy. It is founded and led by James Kingston, a Manx‑born digital asset entrepreneur and policy specialist.
The pledge is available here.
