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Treasury Minister gives Budget update to business leaders at Chamber event | February 2024

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24 February 2025

Treasury Minister Dr Alex Allinson MHK attended a Chamber of Commerce event to give a Budget update to the business community.

The event – which was sponsored by Appleby and Celton Manx – was held at the Manx Museum on Friday (Feb 21st). It began with a presentation by the Minister in which he summarised the main points of the Budget, with a focus on those of greatest interest to Chamber members and the wider business community. This was followed by a Q&A session featuring questions from the audience, plus some submitted by those who were not able to attend. Chamber sees the following as the key takeaways and talking points:

  • Acknowledging the economic challenges facing some sectors, the Treasury Minister highlighted the importance of attracting older workers and encouraging the long-term unemployed back into work.
  • He also emphasised the importance of encouraging greater secondment opportunities between government and the private sector, including a call for senior government employees to gain private sector experience and vice-versa
  • The Minister stressed that maintaining the Island’s credibility on the international stage requires a joint effort between businesses and government. By working together, he said, both sectors can reinforce the Isle of Man’s position as a globally competitive and economically resilient jurisdiction

Chamber of Commerce CEO Rebecca George thanked the Treasury Minister, guests and sponsors for supporting the event, and commented: “As always, we’re very grateful when Ministers and our members take the time to engage in forums like this. It’s a great example of how Chamber works to encourage dialogue and collaboration between Government and the business community.”

Isle of Man Chamber of Commerce – which is the Island’s leading business network and represents just under 500 organisations on the Island – has published a detailed response to the Budget. Click here to read it, or go to the Chamber News section of www.iomchamber.org.im