The Isle of Man Chamber of Commerce says the island’s economy must be the central focus for candidates in this month’s election.
Speaking to Manx.News, Chamber President Claire Watterson said members want to see a new administration committed to “growing the Isle of Man economy” and working in partnership with business to “turn this around”.
She explained that the island’s export sector, financial services, e‑gaming, insurance and other industries that bring new money into the island, remains the largest contributor to GDP and government income.
Losing high‑value jobs, she said, has a “significant impact on the tax take” that funds public services such as health, education and infrastructure.
Watterson also highlighted declining business confidence, with 75% of Chamber members reporting no confidence in the island’s current market positioning.
On regulation, she said preparing for MoneyVal has required businesses to provide information “over and above what is usually requested”, diverting staff time away from generating new business and servicing clients.
Govt Must Work With Industry
Recent National Risk Assessments have added further workload as firms update their risk frameworks accordingly.
Addressing skills shortages, Watterson said government must work with industry to identify gaps and ensure the education system prepares young people for island‑based careers.
Without this, she warned, the Island will continue relying on imported labour “at the detriment to our local population”.
She added that voters should remember they are electing a national government, and candidates must be capable of representing the island credibly on the international stage while empowering local authorities to manage local issues.
