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