Growth 'vital for everything else'

Lobby group calls for more focus on the economy during election

The founder of a lobby group says economic growth is the most important issue in the upcoming general election. 

James Kingston says that without a strong and growing economic base, the services people want from government won't be possible. 

Speaking to Manx Radio, he outlined that the non-partisan group sees plenty of opportunity for the Island's economy and it must be able to succeed. 

However, despite the election being less than three weeks away, James said he would like to have seen the economy featuring more prominently in campaigns and debates.

He added: "If we look at how the economy is doing, there's been some quite startling statistics that have come out in the last few weeks, such as, for instance, that in terms of the last two years, which we have data, we've seen a 7.4% contraction in the economy overall."

As well as a drop in entry-level jobs are across the economy in various different sectors, James said the indicators from the government's other most recently available figures are not currently pointing in a positive direction. 

He said: "I think what we really need now is both a sense of urgency on that and creativity, and so really that's what we're here to to emphasise."

With government looking for new ways to grow the economy given the slowdown in banking and e-gaming, James said there are several areas the Island can thrive in. 

They include digital assets and tokenisation, data as an asset, AI and IP frameworks, life sciences and using University College Isle of Man to lead on niche courses and academic areas such as motorsport engineer and marine sciences.

Acknowledging that candidates who come knocking will speak about supporting business and growth, James said voters should ask perspective MHKs how they intend to deliver results.

He said: “If you say the economy is important and we need more good jobs on the Isle of Man, what would you do? What are your top priorities?”

Listen below: