Coronavirus: Events and jobs support to help Isle of Man economy recover

The cancellation of many community events led to a lack of footfall in town centres

A £500,000 fund to help bring community events back to life following the island's coronavirus shutdown has been launched.

Under the scheme, organisations will be able to claim up to 80% of the cost of staging events, such as Christmas markets and festivals.

It is one of a raft of measures announced as part of the government's £100m post-pandemic recovery programme.

Other schemes include salary support for 120 new private sector jobs.

The Domestic Events Fund is open to local authorities, businesses, individuals and charities.

Lawrie Hooper MHK of the Department for Enterprise said the initiative was designed to "to stimulate and support" the economy.

The cancellation of many large events due to the coronavirus pandemic had resulted in "a very difficult time" for many businesses, he said.

Community events could help to boost footfall in the island's villages and towns, he added.

'Significant challenges'

Meanwhile the Manx Re-start scheme is designed to support new work placements for a year, subject to Tynwald approval later this month.

The scheme would see the government subsidise the salary and National Insurance costs of new employees by up to 70% of the island's living wage.

It would be open to those who had been unemployed or in receipt of the Manx Earnings Replacement Allowance for three months or more.

Treasury Minister Alfred Cannan said the island had experienced "significant challenges" to its economy as a result of the pandemic, and the initiative would help those who were "at a high risk of long term unemployment".

Other measures include speeding up the rollout of ultrafast broadband from five years to four, an increase in courses offered at University College Isle of Man, and government-backed guarantees for loans of up to £250,000 to firms.