Views sought on bid to boost Isle of Man working population

The draft strategy aims to grow the economically active population

Restrictions could be put on who can move to the Isle of Man as part of a plan to increase the number of workers.

Disincentives including health insurance requirements and minimum levels of savings could be placed on those who want to retire to the island.

A draft Economic Strategy, which aims to boost the number of jobs by 5,000 and grow the population to 100,000 by 2037, was revealed last month.

A consultation over the measures has now been launched.

Other options being considered are disincentives for those off-island investing in the property market, in order to open up the housing market to those living locally.

'Significant risks'

The consultation said: "Unlike comparator jurisdictions, the island does not currently place controls on the inward migration of non-economically active individuals.

"We must therefore also consider how to balance the attractiveness of the island for everyone, with the costs of sustaining those who are not economically active.

"Without a dramatic shift in the island's proposition, the trajectory with an existing ageing population and an open door policy to new retirees carries significant risks that mean in the future, the quality of services provided - from healthcare to education, from infrastructure to policing - simply won't be affordable."

Of the 84,000 residents recorded in the latest census, more than 8,800 of the overall population are over the age of 70, with a further 10,000 due to have reached that age within the next 15 years.

Other areas covered in the document include creating more indoor leisure facilities to attract and retain younger workers, the creation of a new tax strategy and a re-prioritisation of capital schemes to favour economic considerations.

The consultation is available online until 30 September.