The Enterprise Minister says his department has not provided any direct grants or loans to two industry bodies in the past five years.
Responding to a written question from Ramsey MHK Dr Alex Allinson, Tim Johnston MHK said the only financial involvement with the Isle of Man Chamber of Commerce related to the Eagle Lab.
DfE provided a rental guarantee between February 2021 and the Lab’s closure in November 2023.
A total of £149,196.97 was claimed against that guarantee, paid directly to the landlord rather than to the Chamber itself.
He said the guarantee ensured the continuation of shared working space, events and business support services, and also allowed the Department to use the facility for its own workshops and engagement sessions at no cost.
Support for Construction Isle of Man
The Minister also confirmed that Construction Isle of Man (CIOM) has received £229,627.03 in departmental funding over the past five years.
While not classed as a grant, loan or guarantee, he said the support was provided “in the interests of transparency”.
The funding has been used to establish and operate CIOM as the island’s central body for construction standards, industry coordination and workforce development.
According to the Minister, CIOM’s work includes accreditation schemes, training initiatives and policy engagement to support regulatory compliance and assist SMEs.
The full written answer can be found here.
