The Economic Strategy Board is a subcommittee of the Council of Ministers and has been established to ensure that the utmost priority is given to the three strategic objectives within the Island Plan, which is for the Isle of Man to be:
This sub-committee leads on the Island Plan theme of ‘A Strong and Diverse Economy’.
As outlined in the Island Plan, a key project which the Economic Strategy Board will be responsible for progressing and delivering is the long-term Economic Strategy for the Island, commissioned in 2021.
In addition to this, the Economic Strategy Board is responsible for ensuring the delivery of the relevant economic priorities, targets and objectives within the Island Plan, and will undertake detailed policy development on strategically important issues, identifying and drafting economic policies to recommend to the Council of Ministers.
In 2021, the Isle of Man Government appointed KPMG as strategic partner to develop a five to ten year Economic Strategy for the Island, following a competitive process that attracted international responses for tender.
The KPMG Economic Strategy, ‘Our Big Picture’, will be constructed across five key phases; the Economic Vision, Macro Economic Research and Review, Development of Policy Levers, formulate a Strategic Framework and Establish a Monitoring Program.
The KPMG team will be co-led by Dr Nicola Mazzarotto, Global Head of Economics for KPMG and Simon Nicholas, Partner at KPMG Isle of Man.
To contact the 'Big Picture' team at KPMG, email them here.