Chamber of Commerce sets out ten priorities and growth framework for new government

The Isle of Man Chamber of Commerce has published two papers setting out what it says businesses need to grow, and how Government and industry could work together to make that happen.

The documents, released on 19 October, are titled Conditions for Growth – Ten Priorities and the Future Growth Framework. The Chamber said both had come out of its Future of the Economy programme and were intended as practical proposals for the new administration to consider.

According to the Chamber, the papers draw on feedback from members and discussions with business leaders, and aim to move from broad economic ambitions towards specific proposals.

The first paper describes the conditions the Chamber believes firms need in order to invest, recruit, innovate and expand. The organisation said it tested an initial list of priorities through a survey of members, and that responses stressed the importance of sustainable growth as well as a strong call for Government to deliver more effectively.

That feedback produced six immediate priorities, the Chamber said:

• sustainable economic growth
• a world-class business environment
• modern Government delivery and decision-making
• skills, talent and the future workforce
• the knowledge economy, innovation and human capability
• housing and population

A further four priorities cover the island’s international proposition, infrastructure and connectivity, economic intelligence and accountability, and what the Chamber calls the economy of tomorrow.

The second paper, the Future Growth Framework, was shaped by focus groups, workshops and three roundtables with the Chamber’s Gold Members. Those sessions examined economic ambition, the conditions needed for business growth and who should be responsible for delivery, the Chamber said.

The framework is built on a principle the Chamber describes as “purpose before structure”. In its account, that means first agreeing what the island needs to achieve and the functions required to get there, and only then deciding which structures are needed.

Under the model, Government would set the direction, industry would contribute commercial insight, and coordinated work across Government departments would create the conditions for businesses to grow.

The Chamber said the two papers were designed to answer connected questions: what business needs now, and how that can be achieved.

It has submitted both documents to Government and said it wants to test and refine the proposals with officials and the wider business community. Both papers are available on the Chamber’s website.