Manx National Economic Development Forum
The MNEDF is an economic affairs advisory forum chaired by the Minister for Policy and Reform comprising representatives of the Isle of Man Government, Chamber of Commerce, Trades Union Council and Council of Voluntary Organizations.
It meets on a quarterly basis following publication of the Council of Ministers economic report.
Its purpose is:
1. To provide a platform for identifying ways in which the Isle of Man’s economic performance and prosperity can be enhanced and the Programme for Government actions regarding the economy be implemented
2. To examine the economic performance of the Isle of Man as highlighted in the Council of Ministers Quarterly report and other publications
3. To engage with leaders and senior figures from business, trade unions and third sector organisations to achieve economic growth based on a diversified economy with the aims of:
- Raising the standard of living of the whole population
- Ensuring sustainable future prosperity
- Proposing measures to enhance Government revenues
- Ensuring the provision of sustainable public services
In particular, to advise on measures that might be taken:
- To encourage employment opportunities
- To raise of average and median earnings on the Island
- To calculate and introduce a living wage
- To increase the numbers of the population that are economically active
- To remove or modify obstructions to growth
- To develop a workforce equipped with appropriate skills through training and retraining
4. To encourage and, if necessary, assist businesses which:
- Show promise of high earnings and profit
- Are likely to be stable and enduring
- Represent a diversification of the economic base
- Accord with agreed environmental policies
