Enterprise Minister Tim Johnston has backed the Treasury’s 2026 budget, praising its focus on strategic investment and economic resilience.
Speaking in the House of Keys, Mr Johnston highlighted the benefits of the Island Infrastructure Scheme, which he said is leveraging more than £80 million of private sector investment.
“This is tangible, visible progress,” he said. “We have cranes in the sky and ground works well under way, revitalising brownfield sites.”
The minister also welcomed investment in digital connectivity, including the completion of the National Broadband Plan and upcoming 5G rollout.
TT
Turning to the visitor economy, Mr Johnston pointed to the continued global interest in the TT races, which last year saw a record on-island spend of more than £50 million.
He described the forthcoming TT film, produced in collaboration with Amazon and MGM, as a “generational opportunity”.
“This is more than a media milestone,” he said. “It is an economic opportunity with long term results.”
Mr Johnston also welcomed an increase in personal tax allowances, saying it would put “more money directly into people’s pockets” and support working families.
He noted the establishment of a National AI office and work on the Island’s data infrastructure as key to future growth.
“We should not forget we already have a solid foundation, a diverse and resilient economy with strong public finances,” he said. “This budget continues to build positively on what we have.”