Government insists economy is performing well

Fri, 24 Nov 2017

The Manx Government insists the economy is performing well despite uncertainty over the impact of Brexit and a shortage of skilled workers.

The Economic Affairs Unit of the Cabinet Office has published its economic report on the third quarter of 2017.

It claims the Manx economy is providing resilience, with the number of people out of work falling and more jobs being created in the finance and e-business sectors.

However, the report raises concerns about a lack of skilled workers in certain sectors such as manufacturing, as well as the potential impact of the first increase in interest rates by the Bank of England in 10 years.

Chief Minister Howard Quayle says the latest report shows the Island is moving in the right direction.