Coronavirus: Businesses hit by TT cancellation to get grants

The government announced on Monday that the 2020 Isle of Man TT was cancelled

The Manx government is to offer a £3,000 grant and a break from national insurance payments to businesses hit by the Isle of Man TT's cancellation.

The event, which is worth millions to the island's economy, has been pulled amid concerns about the coronavirus.

Announcing the measures, Treasury Minister Alfred Cannon said the coming months would be a "fiscal battle".

He added that accommodation providers would need more "substantial support" and further measures would be revealed.

The grants and contribution holidays will apply to sectors within the tourism industry, including accommodation, catering, entertainment and travel.

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Figures for the 2019 Isle of Man TT reported that £7.8m was spent on accommodation for the event.

Fiona Brumby, who runs a campsite on the north of the island, estimates the two-week event contributes 50% of her annual income.

She said the cancellation was "the right thing to do", even though it would be "crippling for businesses".

Douglas guest house owner Steve Richardson agreed it would "totally devastate" his business.

He said he "lost a lot of business last year" due to the ongoing promenade work and he was expecting a "flood of cancellations" following the announcement on Monday.

The TT was last cancelled in 2001 due to worries about the foot and mouth disease.

The Treasury's measures followed the chief minister's announcement earlier that anyone arriving in the Isle of Man who refuses to self-isolate to contain the spread of coronavirus could be prosecuted.

Of 42 coronavirus tests carried out so far on the island, there have been no positive cases.