Reserves could be better invested to stimulate economic growth in the Isle of Man.
That’s one of the initiatives set out in a government policy report being presented to next week’s Tynwald sitting.
Chief Minister Allan Bell, who will be moving an update to the Agenda for Change strategy, says economic growth is top of the list of priorities.
And he said if we are to ensure the long-term viability of public services, the welfare state and the state pension. the island needs to ‘significantly increase the size of the working age population’.
Mr Bell called for a renewed focus on economic growth, encouraging investment and creating jobs.
The ‘Agenda for Change’ update, entitled ‘Securing A Sustainable Future For Our Island’, sets out the challenges and actions that government will focus on for the remainder of the current administration. The report also sets out the longer term challenges facing the Isle of Man and identifies the actions government will be taking to lay the foundations for our future sustainability.
Priority actions under the ‘Grow the Economy’ heading include a commitment to ‘develop new initiatives with the private sector to boost the economy with a focus on job creation, to be implemented by October 2015’.
The Chief Minister is expected to reveal more about the proposed initiatives when he presents the report for receipt by Tynwald members at next week’s sitting starting on July 21.
The report states: ‘We will continue to promote and support the creation of growth that brings more jobs to our island. We will better use our reserves to stimulate economic growth, drive innovation and support investment in capital infrastructure where it will create jobs and support growth.
‘We will make sure that we have the right environment for enterprise and growth. We want less bureaucracy so business can flourish and grow.’
