Not going to lie, with Charlie off pretending she’s skiing in a hot tub with a cocktail in hand and Juan live streaming a 93rd birthday party or whatever it is he does when not tinkering with radio antennas, it’s been a bit lonely in Manx.News towers.
But all that time has led to me thinking about the state of the economy. Well actually I spent a lot of time thinking about my FPL team, trying to remember where I left my phone charger and what to have for lunch.
But after all that was done, I was thinking about the economy.
It has not escaped my notice that several businesses have announced they are closing in the past few weeks and while the government has announced its Local Economy Strategy, it has been met with somewhat of a “meh” from people.
I think this is largely because it does leave people questioning why, over three years into a five year term, this has only just happened now.
However, with the government still looking for the next big thing, hopefully without it making international headlines for the wrong reasons, I decided it was up to me to solve the economic woes.
Sadly it turns out the only thing I know about the economy is how much beer has gone up in a certain village pub over the last two years.
I knew I had to get radical and this is what led me to… Sir Keir Starmer.
Old two tiers has been having a rough time of it over in Blighty, but I did think he might be on to something, maybe AI can fix everything. So I asked ChatGPT how to solve the Manx economy and this is what it came back with:
The Manx Economy Needs a Kick Up the Backside
Let’s face it: the Isle of Man’s economy is like that old family heirloom in the attic. It’s been reliable, but it’s starting to look a bit… outdated. We’ve relied on the financial services and e-gaming cash cows for years, but the world’s changing, and we can’t keep pretending the status quo will last forever. It’s time to shake things up.
Diversification or Bust
Right now, our economic portfolio looks like a gambler who only bets on two horses. Sure, financial services and e-gaming have kept us in the race, but what happens if one of them stumbles? We need to spread our bets.
Take renewable energy. Offshore wind farms? Tidal power? We’ve got a whole sea around us—let’s use it for more than just Instagram sunsets. Not only would this create green jobs, but we could sell clean energy to the UK and Ireland. Imagine them buying electricity with “Made in the Isle of Man” stamped on it.
And how about biotech? If tiny countries like Estonia can lead the way in digital innovation, why can’t we get a slice of the biotech pie? With some investment and clever incentives, we could turn our island into a lab for breakthroughs in health tech and medicine.
Housing: A Crisis We Can’t Ignore
House prices and a rental market with a lack of real and attractive options are choking our growth. If people can’t afford to live here, how can we expect new industries to thrive? We need more housing—affordable, sustainable, and built where it’s needed most. Tax breaks for developers, smarter planning rules, and better protections for renters would make a massive difference. Let’s create an island where workers, families, and young people can actually afford to stay.
Let’s Stop Boring the Tourists
Tourism is still here, but it’s limping along. We’ve got natural beauty, history, and the TT, but we’re not exactly reinventing the wheel, are we? People are looking for unique, eco-friendly experiences—things they can’t get on a package holiday to Tenerife.
Why aren’t we shouting from the rooftops about our UNESCO Biosphere status? Why aren’t we doubling down on adventure tourism, wellness retreats, and heritage tours? And while we’re at it, how about some actual decent transport infrastructure to get people around? No one wants their dream holiday ruined by a bus that’s running on “Manx time.”
Homegrown Talent, Global Appeal
Here’s a crazy idea: let’s make the Isle of Man a place young people actually want to stay. To do that, we need jobs in industries that excite them and training programs to match.
But let’s also be honest—we’re going to need fresh blood. A welcoming immigration policy could attract top talent. And no, that doesn’t mean giving them a tour of the Manx Museum and calling it a day. We need a real pitch about why living here is better than anywhere else (because it is).
Sustainability, but Make It Fashion
Sustainability isn’t just about hugging trees; it’s a solid business plan. Renewable energy projects, eco-tourism, and green practices are no longer optional—they’re essential. And hey, being “the green island” could even make us cooler in the eyes of the world.
Time to Get Moving
The Manx economy doesn’t need tinkering—it needs a bold, confident overhaul. We have the talent, resources, and location to thrive, but only if we stop playing it safe. Let’s turn this island into the powerhouse we know it can be.
It’s time to get our act together. Chop chop!
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