A new fund has been established to accelerate the delivery of important projects that develop people’s skills and ensure a future ready workforce in the Isle of Man.
It comes after Treasury agreed to make a substantial £250,000 fund available that will mean the Isle of Man Skills Board can action its Skills Strategy.
The ambitious three-year plan, which was backed by Tynwald in May, is a key part of Government’s vision, set down in the Island Plan, to deliver a ‘strong and diverse economy’ and ‘outstanding lifelong learning and development opportunities for all’ island residents.
Individual projects that will accelerate the delivery of actions outlined in the strategy andwhich aren’t covered by existing Government budgets will be able to apply, as long as they have defined and measurable outcomes.
Peter Reid, the Board’s Independent Chair, said:
'The new fund will be a catalyst for action and accelerate the delivery of projects to close the skills gap. This initiative underscores the Board’s commitment to addressing the skills challenge, ensuring a workforce that meets the needs of employers both now and in the future.'
Tackling the skills shortage across multiple sectors is a key objective of both the Island Plan, which sets the vision for a secure, vibrant and sustainable future for the Isle of Man, and the Economic Strategy that aims to create and fill 5,000 new jobs by 2032.
Daphne Caine MHK, Minister for Education, Sport and Culture, said:
'This is a significant milestone in enhancing the skills needed to drive economic growth and sustainability.'
The Skills Strategy sets out four main goals, including identifying employer needs and strengthening the opportunities available to gain and develop ‘in demand’ skills. It was developed by the Isle of Man Skills Board, which sees Government working collaboratively with the Chamber of Commerce and educational providers to ensure that the island’s workforce meet the needs of the economy.
