Alfred Cannan has been speaking on Manx Radio's Breakfast show
This afternoon Chief Minister Alfred Cannan will meet with senior ministers and officials to discuss the emerging economic and social impacts of the conflict in the Middle East.
The Economic National Strategy Board will host an extraordinary meeting to assess the potential inflationary pressures that Isle of Man residents could face.
Today (10 March) marks 11 days since Israel and the US began strikes in Iran, leading to a wider conflict in the region.
This morning, the chief minister joined the Manx Radio Breakfast team to discuss the main topics and potential concerns ahead of the meeting.
'Pre-emptive move'
The Ayre and Michael MHK says there will be some economic impacts on the Island adding it's a pre-emptive move from the Isle of Man Government to get 'an early track' on the potential impact the Island and its residents may face.
It's expected that future fuel that will be delivered here will be 'significantly' increased as well as other impacts:
Crisis mode
Mr Cannan says it's the third time the current administration has had to 'go into crisis mode' the previous being the Covid-19 pandemic, the Ukraine War and now potentially another period of uncertainty.
"We've seen the increase in the markets in terms of the oil and energy prices and we know from previous experience what impact it can have on the Island."
No panic
The chief minister says there's no need for residents to panic but rather wait to see how things develop in the next few weeks.
He says it's important to understand the impacts on the community or the business sector, so officials know how to be on standby to take corrective action:
Speaking on some of the potential indicators, Mr Cannan says there maybe some logistical supplies that are of essential need. On the fuel side, he says there are plenty of resources around the world but there are other things we would need to keep an eye on:
Security
When asked about the security of the Island's borders, he says government has taken a lot of action to ensure the Island is safe.
"Ports policing has been merged to the constabulary. We are talking to the Steam Packet in terms of additional security measures. We're ultimately linked to the Common Travel Area but security at our borders is the primary concern to us."
World leaders
While the chief minister says he won't add his voice to extend what world leaders have been saying, his focus remains on what is needed on the Island:
'Help is available'
Mr Cannan adds that a number of Isle of Man residents have reached out to the government for assistance with issues related to the conflict and is advising everyone who has been impacted to contact the Foreign and Commonwealth Office, which is the primary source of information:
"I appreciate there's lot of other travel disruption going on around the place. I know there's Manx residents in other countries who've been caught up in this. My thoughts with them. As far as I know everyone is safe and well, which is the primary interest."
For latest updates, check UK FCDO social media channels:
Newscast
You can listen to the full interview with Chief Minister Alfred Cannan here:
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