In a recent interview with Media Isle of Man, our new President, Claire Watterson, and outgoing President, Kristan McDonald explored some of the biggest challenges our island is facing.
1. Government Size and Spending
Kristan raised a significant concern about the size of our government compared to our population. He pointed out that our tax base is stretched, with a relatively small group of people supporting an extensive public sector. This imbalance has led to us dipping into our reserves just to keep things running. It’s a stark reminder that we may need to re-evaluate and consider ways to streamline and reduce government expenditure.
2. Skills Shortages
Both Claire and Kristan highlighted the skills gap on the island. It’s an evolving issue, with traditional job roles changing rapidly. Claire stressed the importance of promoting continuous learning and adaptability, as the days of a 'job for life' are becoming a thing of the past. We need to think about how we can train people in specific technical skills right here on the island while also attracting new talent to help fill these gaps.
3. The Role of Artificial Intelligence (AI)
AI was another big topic. We’re at a point where AI could genuinely transform productivity, both in our businesses and in the public sector. Claire is passionate about the idea that we should be preparing for this now. By building a tech-savvy workforce and proactively identifying which jobs are at risk of automation, we can make sure that our community is equipped with the skills they need for the future.
4. Collaboration and Getting Things Done
Kristan made a strong point about how we need to improve collaboration and execution. Although we understand the issues well, we often fall short when it comes to putting plans into action. We must focus on better delivery to make real progress in tackling these challenges.
The Chamber is committed to being a critical friend to the government, helping shape strategies that promote economic stability and growth. It’s clear we’ve got a lot to do, but with a more coordinated approach, we can start making the right changes for our island’s future.
Read the Written Article Here: Link to Article
Watch the Full Video Interview: Watch Now
