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Details on ‘Economic Recovery Group’ promised shortly

Thomas wants terms of reference

Government is holding off on providing more details about the team tasked with kick-starting the Manx economy in the wake of COVID-19.

The ‘Economic Recovery Group’ (ERG) is chaired by the treasury minister, and is overseeing projects to create jobs to meet the challenge of high unemployment, increase local spending, and accelerate infrastructure projects.

Alfred Cannan announced £100 million of public money would be set aside to finance this work in his budget update last month.

Douglas Central MHK Chris Thomas had asked for information in Tynwald written questions about how the group will operate, with some answers provided by the government today (18 Aug).

The ERG is tasked with assessing the impact of coronavirus on the Manx economy now and in the future, and must report its decision to the Council of Ministers.

Projects it’s approved so far include bringing forward the ‘Locate Isle of Man Strategy’, improving broadband, and a summer internship scheme.

Government has promised more details about the body will be published soon on a new web page which will explain its terms of reference and progress reports.

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