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IOM GOV UPDATE – 17TH APRIL

Published

6 years ago

on

DELIVERED BY ALF, TREASURY MINISTER 

  • OVER THE PAST 4 WEEKS WE’VE RELEASED A FEW DIFFERENT SCHEMES

  • WE KNOW THERE ARE A WIDE REACHING CHALLENGES FOR BUSINESSES AND INDIVIDUALS 

  • MERA OPENED FOR BUSINESS LAST WEEK 

  • 2000 APPLICATIONS – 742 APPROVED – WILL RECEIVE MONEY  NEXT WEEK

  • APPLICATIONS COMING IN AT A RATE OF 100 PER DAY

  • SALARY SUPPORT SCHEME – ALSO LOTS OF APPLICATIONS – PAYMENTS WILL BE MADE BY THE END OF NEXT WEEK 

  • 60 CIVIL SERVANTS WORKING ON SALARY SUPPORT SCHEME APPLICATIONS 

  • PHONE LINES ARE BUSY – KEEP TRYING OR EMAIL US 

  • OVER 3K APPLICATIONS FOR THE £3K LOAN – 866 HAVE BEEN PAID 

  • IT’S TAKING LONGER THAN WE THOUGHT I’M SORRY – WE’RE WORKING AS QUICKLY AS POSSIBLE 

  • TAX & NI – IF YOU’RE NOT UP TO DATE THEN IT’S COMPLEX 

  • NATIONAL EMERGENCY DOES NOT = FREE FOR ALL 

  • THANKS TO STAFF WHO ARE WORKING EVERY HOUR POSSIBLE 

  • THANKS TO THOSE DESPERATE FOR MONEY FOR YOUR PATIENCE 

  • £60 MILLION IN LOANS AVAILABLE VIA BANKS 

  • START THINKING ABOUT HOW YOU MIGHT CHANGE AND ALTER YOUR BUSINESS FOR THE BETTER IN THE LONG TERM

  • WRITTEN TO TYNWALD TO ASK FOR FLEXIBILITY SO WE CAN BORROW MONEY IF WE NEED IT – MORE IN THE NEXT KEYS SITTING 

  • WE CLOSED BUSINESSES – WE KNEW THERE WOULD BE AN IMPACT ON EVERYONE BUT WE DID IT FOR A REASON 

  • WE DID IT TO SAVE LIVES – WE DID IT TO SAVE YOUR LOVED ONES 

  • BE PROUD OF YOUR RESPONSE, YOU ARE MAKING A DIFFERENCE 

  • HOSPITAL CAPACITY IS GOOD 

  • YOU’VE BOUGHT US SOME TIME AND SPACE BY STICKING TO THE RULES 

  • CROSS GOVERNMENT TASK FORCE LOOKING TOWARDS WHAT A NEW NORMAL COULD LOOK LIKE AND MOVE THE ISLAND FORWARD 

  • HOWIE IS GOING TELL US ABOUT THE NEW NORMAL NEXT WEEK 

  • STRUCTURED RETURN TO WORK FOR CONSTRUCTION COULD HAPPEN FROM NEXT FRIDAY 

  • BUT ONLY POSSIBLE IF EVERYONE STICKS TO THE RULES

  • WE MAY BE ABLE TO TAKE SOME MODEST STEPS FORWARD FROM NEXT FRIDAY 

  • WHEN HOWIE IS BACK LISTEN CLOSELY TO HIM, AND ASHY TOO 

  • LET’S REMAIN CALM AND FOCUSSED IN THE DAYS AND WEEKS AHEAD 

QUESTIONS 

  • BUSINESS SUPPORT SCHEME – A NUMBER OF BUSINESSES HAVE BEEN DECLINED FOR GRANT – BUT ALF DOESN’T HAVE SPECIFIC NUMBERS

  • THINGS GET COMPLEX AS WE DRILL INTO TAX AND NI WITH BUSINESSES 

  • IT HASN’T BEEN AS QUICK AS WE WANT, BUT WE’LL GET THERE 

  • WE WON’T SEE FULL EXTENT OF MONEY REQUIRED UNTIL WAGE SUPPORT APPLICATIONS HAVE BEEN RECEIVED – ESTIMATE £30 MILLION A MONTH 

  • IF YOU’VE GOT QUESTIONS ABOUT THE £1K – SEND THEM TO CABINET

  • NEXT WEEK HOWIE WILL MAKE A MAGNIFICENT RETURN AND OUTLINE FIRM GUIDANCE ABOUT RETURNING TO WORK. WE NEED TO GET THROUGH THE NEXT 7 DAYS STICKING TO THE RULES FIRST THO

  • TRACKING CASH FLOW CAREFULLY 

  • NEED TO WEIGH UP TAPPING UP RESERVES VS GETTING A LOW INTEREST LOAN 

  • 20 – 30% NEGATIVE ECONOMIC IMPACT SOUNDS ABOUT RIGHT BUT WE’LL HAVE EXACT FIGURES IN JUN / JULY 

  • THERE ARE LOADS OF DIFFERENT STRATEGIES WE COULD ADOPT – BUT IT’S TOO EARLY TO START SPECULATING ABOUT WHAT A FUTURE BUDGET WOULD LOOK LIKE 

  • HOWIE IS ON THE ROAD TO RECOVERY. HIS ISOLATION ENDS ON TUESDAY. LOOK FORWARD TO HIS RETURN WHEN HE WILL DELIVER DETAILED PLANS ABOUT THE FUTURE 

  • THE GUY WHO HASN’T HAD A RESPONSE YET – GET IN TOUCH WITH ALF

  • IT HAS TO BE TRAINED STAFF TO DEAL WITH THESE MATTERS 

  • WE’LL DEAL WITH PAYMENTS AS QUICKLY AS POSSIBLE – NO GOAL IN PLACE 

  • SALARY SUPPORT SCHEME LINKED IN TO OTHER GOVERNMENT DATA 

  • WE KNOW BUSINESSES NEED CASH TO PAY THEIR STAFF AND STAY ALIVE 

  • YOU CAN’T JUST RELY ON GOVERNMENT – SPEAK TO BANKS AND USE INITIATIVE 

  • TREASURY ALSO NEEDS TO REMAIN CALM – TO PLAN AHEAD 

  • ON GOV PAY CUTS – AS THE SMOKE LIFTS, PROVIDING WE CAN GET SOME NORMALITY BACK, ONLY THEN WILL WE BE IN A POSITION TO DELIVER A BUDGET TO TAKE THE ISLAND FORWARD 

  • CONFIDENT IN THE ABILITY FOR OUR ISLAND TO GET BACK ON ITS FEET AND FIND ITS WAY SUCCESSFULLY THROUGH THIS 

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