Economic project unveiled

A clear plan for the Isle of Man's economic future has been launched today.

Called 'Vision 2020', the initiative contains eight strategies designed to boost hard-pressed Government coffers.

The six year outlook identifies manufacturing and tourism among areas for expansion - with financial services remaining crucial to the Manx economy.

E-business is also highlighted as being a key source of growth.

Vision 2020 is being driven by the Department of Economic Development, and has involved extensive consultation both within government and, crucially, with the private sector - a process which began last June.

The upshot is a forecasted growth of 3-4 per cent every year - a figure substantially higher than almost all other developed countries.

The vision was presented to Tynwald members earlier this afternoon, and shown to business leaders at the Manx Museum this evening.

Minister John Shimmin is very confident about its success: