The Isle of Man Chamber of Commerce has welcomed the line-up of the new Council of Ministers, the island’s cabinet, and urged the incoming administration to act quickly on the economic challenges the island faces.
In a statement on 16 October, Chamber President Claire Watterson said the Chief Minister had “listened to the business community”. She welcomed what she described as a clear focus on entrepreneurial thinking and a better understanding of the economy.
Ms Watterson called that a starting point and said the task now was to turn intent into action. She warned that the island risks missing out on growth if ministers are slow to decide, if procedures are unwieldy or if rules go further than they need to.
The Chamber wants regulation kept in proportion, quicker decisions and up-to-date technology and connectivity. It also wants a clear offer setting out why businesses should choose the island, promoted through strong branding and a consistent message.
Ms Watterson said the Chamber had already carried out substantial work on the future of the economy and skills. She said that work would allow it to begin working with the new administration immediately.
She said the Chamber looked forward to working collaboratively with the Chief Minister and the wider Council. She added that the election had underlined that economic growth is “not the responsibility of one department alone”, and said every department had a part to play in building a stronger, more competitive and sustainable economy.
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