Treasury Minister Alfred Cannan MHK today announced a £100m Economic Recovery Fund and unveiled measures to protect jobs, secure investment and enable growth as part of the Isle of Man’s financial fightback from coronavirus.
He confirmed a new cross-government Economic Recovery Group has been established and will start work immediately to co-ordinate action and reaction to the economic conditions.
The Council of Ministers has commissioned a series of projects to stimulate the internal economy, create and protect employment, and provide investment in the Island.
Research will be undertaken into how the Island can seize on opportunities presented by the crisis and, looking ahead, be well-placed as the global economy settles over the coming months.
