IOM GOV UPDATE – 20TH MAY 2020

ALF – TREASURY MIN

NUMBERS

  • 1 NEW CASE

  • 10 ACTIVE CASES

UPDATE

  • SALARY SUPPORT SCHEME HAS PAID OUT £30 MILLION = 11,000 JOBS / 1,500 BUSINESSES

  • MERA HAS PAID OUT £5 MILLION TO 2,000 INDIVIDUALS 

  • SUPPRESSION OF VIRUS MEANS SOME SECTORS HAVE RETURNED

  • FAR TOO EARLY TO EXPECT BUSINESSES TO GET BACK TO PROFITABILITY. LOTS OF GROUND TO MAKE UP 

  • SOME STILL CAN’T OPEN – PRESSURE WILL GROW 

  • TYNWALD HAVE APPROVED EXTENSION OF SUPPORT SCHEMES FOR A FURTHER 12 WEEKS 

  • BUSINESSES SHOULD MOVE FORWARD AS QUICKLY AS POSSIBLE IF THEY CAN RETURN 

  • THINK LOCAL, ACT LOCAL, BUY LOCAL – TO HELP STABILISE ECONOMY AND MAINTAIN JOBS

  • STAYCATIONS WILL BE A BONUS TO THE ECONOMY. LOOKING TO MAXIMISE THE OPPORTUNITY 

  • BIG CHALLENGE AHEAD, BUT NO REASON NOT TO BE OPTIMISTIC AND BRING OUR ECONOMY BACK TO LIFE 

QUESTIONS

  • JOB SEEKERS NUMBERS SEEM HIGH BUT IT’S HARD TO TELL THE FULL IMPACT UNTIL MORE SECTORS RETURN. EXPECT SOME DECLINE AS SECTORS DO RETURN TO WORK 

  • IF UNEMPLOYMENT GETS HIGHER THEN THERE WILL BE MORE PRESSURE TO EDUCATE, RETRAIN AND RE-SKILL WORKFORCE

  • TREASURY HASN’T PUT A SQUEEZE ON THE PROM PROJECT AND BUDGET. DOI HAVE TAKEN A SENSIBLE VIEW TO COMPLETE THE PROM, OPERATIONAL DECISION

  • WE’LL MAKE MORE DECISIONS ABOUT SUPPORTING BUSINESSES WHEN THEY ARE BACK UP AND RUNNING, WE’LL GET A BETTER FEEL FOR WHAT THEY NEED

  • GOVERNMENT IS MAINTAINING A SMALL FRAMEWORK OF AIR LINKS

  • WE NEED TO GIVE THE AIRLINE INDUSTRY SOME TIME TO PRESENT PLANS BEFORE GOV STEPS IN WITH AN ALTERNATIVE 

  • ALF WOULD PREFER A STABLE AIR CARRIER WITH WELL PRICED OPTIONS 

  • IN TIME WE NEED TO ADDRESS BALANCE BETWEEN SEA AND AIR TRAVEL 

  • CRITICAL TRANSPORT LINKS ARE IMPORTANT 

  • NEED TO BALANCE TRAVEL ACCESSIBILITY WITH PROTECTING OUR OWN RESIDENTS 

  • VAST MAJORITY OF BUSINESSES SHOULD BE BACK AND OPERATING SOON 

  • SOMETIMES YOU HAVE TO TAKE AN OPTIMISTIC VIEW ON OPENING THE ECONOMY, WE HAVE DONE WELL TO CONTROL THE VIRUS

  • WHEN BORDERS DO FINALLY OPEN, IT MIGHT BE LIMITED

  • SMOOTH, EFFICIENT, TESTING AND CONTROLS AT THE BORDER IS ESSENTIAL IN THE LONG TERM

  • PERFECT TIME TO THINK ABOUT A STAYCATION, GREAT ECONOMY BOOST TOO 

  • ISLAND HAS ROBUST FINANCES AND WE WILL BORROW £250 MILLION FOR CASH FLOW AND ECONOMY SUPPORT 

  • MEANINGFUL BUDGET DUE IN JULY

Leave a Reply