Financial assistance for hospitality businesses over TT period

Taxpayer supported payments for staff working 37+ hours

Temporary financial assistance will be given to hospitality and retail businesses as part of efforts to support the local economy.

The Department for Enterprise hasn’t said how much taxpayers' money it’s putting forward for the new scheme which will run over the TT period.

It will enable businesses to claim additional payments to give to staff who are working in excess of 37 hours per week.

It follows concerns raised by the Licensed Victuallers Association, Restaurateur’s Association and the wider hospitality sector - you can find out more HERE.

Enterprise Minister Tim Johnston said: “The temporary financial assistance scheme announced today (22 May) seeks to relieve some of the pressure facing these businesses regarding the demand for staff in the short-term by recognising and reinforcing the opportunity to work over this period.”

The DfE says it’s also launching a ‘dedicated online support resource’.

Mr Johnston continued: “From the dialogue we have had with industry in recent weeks it has become clear that information and support for the Island’s local economy needs to be more accessible.

“It is also clear that there are a number of areas that are not fully understood consistently by all or areas where further changes have been suggested which are simply either not possible or do not make overall economic sense.

“To try and assist the Department for Enterprise will be bringing forward a dedicated online resource, through Business Isle of Man, in addition to providing enhanced information, practical support and guidance on further support as and when it comes forward so that everyone can benefit from what is available in the interests of fairness.

“We will continue to work with and monitor the health of the sector as best we can over the coming months to understand how we can best support the industry in a way which is fair, sustainable and affordable and will contribute to the Island’s economic prosperity.”

Treasury Minister Alex Allinson added: “In the spirit of our commitment to supporting the hospitality sector given current concerns, the Department for Enterprise and Treasury have engaged in collaborative talks to assess prevailing challenges and explore avenues for assistance in key areas.

“Both departments recognise the challenges however, are also clear that any measures considered have to be fair and in doing so, must not cause market distortion, and must be aligned to the ambitions of the Island’s long term Economic Strategy.”

Additional measures to support customer facing businesses will include the expansion of the seasonal worker incentive and employee relocation incentive to include those working in retail and hospitality.

Funding to support 50 percent of the costs in relation to hospitality qualifications under the Liquor Licensing and Public Entertainments Act 2021 will also be provided.