Treasury Minister promises package of financial measures soon

Fri, 20 Mar 2020

By Ewan Gawne - Local Democracy Reporter

The treasury minister says ‘a huge amount of work’ is going into a package of measures aimed at supporting Manx businesses through the coronavirus pandemic.

Forty-million pounds is being made available to the government contingency fund, but Alfred Cannan admits it may not be enough.

Grants and a national insurance holiday for businesses and employers in certain sectors have already been announced, along with sick pay compensation payments.

Mr Cannan says the treasury recognises the situation is ‘beyond urgent’, but says the package of measures will be finalised soon.

He’s promised to go back to Tynwald for approval if further measures are required.