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Chamber welcomes CoMin migration report, but calls for more talks with businesses | Oct 2024

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14 October 2024

The Isle of Man Chamber of Commerce says it broadly welcomes the conclusions of a government report on migration, but is calling for closer collaboration with the business community.

Chamber is responding to Council of Ministers’ ‘Inward Migration Incentives & Disincentives’ report published in July this year, and the debate on the same topic at the recent Isle of Man Government conference. Inward migration is vital in the context of the Government’s economic strategy goals which include aiming to create 5,000 new jobs by 2032, and increase GDP to £10billion. Beyond that there is an aim to develop the infrastructure and public services to support a population that’s estimated to reach 100,000 by 2037.

Chamber has doubts about whether the population and new jobs targets are achievable, and serious concerns about whether Government’s strategy behind these targets will meet the future needs of the Island’s economy.

In a statement, Chamber said: “We broadly welcome the report’s conclusions, and comments made by Ministers at the conference. As the Government has acknowledged, getting inward migration policies right is vital to address the Island’s demographic challenges and ensure sustainable economic growth. However, based on views from Chamber members and the wider business community it’s also clear that employers across a range of sectors still have major concerns which need to be addressed.”

These concerns, say Chamber, include:

  • The target of creating 5,000 new jobs and achieving a GDP of £10billion by 2032 are widely considered to be ambitious. So, while inward migration is a key component, it must be aligned with the Island's economic needs and sectoral skill gaps.
  • The lack of comprehensive data to support the proposed incentives and disincentives is another major worry. The development of a robust data collection and management system to track the demographics, skill sets, and economic contributions of new migrants is therefore essential.
  • Linking with the Skills Board and utilising Labour Market Information (LMI) will be crucial to ensure people with the right skillsets are being encouraged to migrate to the Island.
  • While Chamber acknowledges the focus on retaining young professionals and graduates, it believes the proposed incentives need to be more comprehensive to effectively address the underlying factors currently contributing to the high outward migration of young talent.
  • The current state of infrastructure (particularly in housing, healthcare, and education) is insufficient to support a significant increase in population. Without addressing these foundational issues, the proposed incentives may fail to achieve the desired outcomes. Acceleration in investment in housing development and healthcare services is therefore required to meet the needs of both existing and new residents.

Click here for a blog about Chamber’s views on the Council of Ministers’ ‘Inward Migration Incentives & Disincentives’ report and related issues.