Residents, businesses, and charities say they are feeling the pinch of rising costs, with many describing the economy as a key priority ahead of the Isle of Man general election. Several independent shops in Ramsey said custom was down and running costs had become harder to manage, while the island’s foodbank said demand for support had doubled in two years. The Isle of Man Chamber of Commerce warned the Island faced “a very hard five years” ahead, citing a shrinking tax base and the recent loss of many high‑earning jobs. Candidates have been urged to explain how they will fund their plans, support businesses, and reduce the pressures on working families. Residents in Douglas said rising prices were affecting everyday life, with several describing the cost of living as their biggest concern ahead of the election. Sharon Cox, from Douglas, said life was “not affordable.. especially for older people and vulnerable people”. Prices were rising “not just by pennies”, but by “25 or 30 pence” each time she visited the shops, she added. Mum-of-one Caitlin Gibson said she was living with her mum and struggled to save anything while caring for her young daughter. She said: “I can’t really afford to move out. I can’t afford to save anything, so everything I earn, which is very little in the first place, is going on my baby.” Another Douglas resident, Andrew Cairns, said rising fuel and energy costs were having “a massive impact”. “Petrol is going up, electric, gas. You’ve only got to go in a shop a month apart and you can see the prices rising,” he added. He said it was something on his mind ahead of election, adding there was “a lot we can do to cut down our costs”. A number of businesses described the last few years as some of the hardest they had faced. Tania Dolores, from Tania Dolores Shoes and Accessories, said: “Every day is a struggle. We are not making what we used to make.” She said her takings were “exactly the same amount of money as ten years ago”, but that her bills were “much higher”. Amy Salter, from the Brunch cafe, said the cost of supplies and energy had changed how the family business operated. When the business opened three years ago, it was “a lot easier than it is now”, she said, adding that even small price rises in stock were having a big impact. Linda Murphy, from Oma Sustainable Living, said footfall dropped sharply after government services were removed from the Post Office earlier this year. She said she wanted to see in charge “somebody who understands and is looking out for small businesses, somebody who understands the value of the community, the high street and what it benefits”. Chairman of the Isle of Man Foodbank David Gawne said the third sector was also seeing the impact, and said the charity had become “something of a barometer” for the island’s economic pressures. “Two years ago, we were giving out 200 parcels a month. We’re now giving out 400 parcels a month and we’re pushing that boundary now,” he said. He explained that 80% of people it supported were working full time, but “not earning enough now to be able to support themselves or support their family”. Gawne said many families were living on a financial knife-edge. “A lot of people are just one payday away from relying on the food bank… that is a reality for a lot of people.” He called for the next administration to prioritise the economy. Business lobby group the Isle of Man Chamber of Commerce said the island was entering “a very hard five years” of economic challenges, warning that pressures on public finances and the loss of high‑earning jobs had created a difficult environment for both households and businesses. She said that after decades of economic growth, the latest statistics released by government showed the economy had declined by 7.4% in the two years to March 2024. And she added that in the last year, a thousand jobs had been lost in the export sector, which included financial, insurance, and manufacturing sectors. She described the figures as “incredibly concerning”, with the true impact of artificial intelligence on the workplace yet to be quantified. Watterson called for an election focus on national issues rather than local. “What we are voting for in September is our national government… how we are going to grow the Isle of Man economy and set us apart on an international stage,” she said. Tell us which stories we should cover on the Isle of Man
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