Economic Strategy Consultation Closes Friday

There are just over two days left to respond to the gov’s draft economic strategy.

After research conducted by KPMG, the strategy outlines intentions for growth beyond this administration and into the next decade.

Among the ideas in the strategy, the gov intends to grow the population to 100,000 by 2037.

The strategy also outlines a plan to reach a GDP of £10bn by 2032, creating 5,000 new jobs, generating over £200m of additional income to reinvest in services for the island, to substantially decarbonise the island’s economy by 2030 and supporting an overall reduction of 35% in the island’s greenhouse gas emissions.

Other proposals include measures being put in place to invest in skills, productivity, infrastructure and business sectors to deliver a more diverse economy, grow and diversify revenues with a broader range of sources for long term sustainability and an Island Campus with a curriculum that is relevant to industry requirements and future employment.

You can read more about it here.

You can take part in the consultation here.

Ultimately, the gov seems set to go down this road, Tynwald will probably back it unanimously anyway, because of course they will. But, if you really don’t like part of it, or like us want to know why legalising cannabis and a space school weren’t given more prominence, take part.

Just incase any of our esteemed political class is reading this, give us a mention in the Tynwald debate, we love a cheap pop shoutout, but we also have a question for you to ponder.

It is possible, like us, you’re a bit confused about the strategy’s timeframe. If you take when it was first announced, it was a ’10-15 year vision’, this week the gov, when reflecting on its first Government Conference, called it ‘the 10-year Economic Strategy’ and the consultation website says it’s a ‘five to ten year economic strategy for the island’. Call us pedantic, but the devil, as ever, is in the detail.