The Department of Economic Development today notes the publication of the report by the Economic Policy Review Committee ("EPRC") in to the proposed appointment in 2016 of Vision Nine as Promoter for the TT and Classic TT and thanks the committee for their work.
The original referral to the EPRC in December 2016 was made by made by Laurence Skelly MHK, Minister for the Department, to review in detail what led to the decision to withdraw from the proposed appointment.
Throughout the EPRC review over the subsequent ten months the Department has actively engaged with the committee and provided a significant amount of material ranging from presentations, policy papers, procurement papers, email correspondence and formal decision points.
The Department remains committed to this transparent scrutiny process to help improve its own future processes and decision-making and more broadly those across the whole of Government. The Department has noted the conclusions and recommendations of the report issued today, and welcomes the conclusion of this part of the process.
The Department will now consider in detail these conclusions and recommendations and will further examine the evidence that has been provided and will provide a full response as part of Government's broader response to the report for January's Tynwald.
The Department remains focused on the successful delivery of the TT Races and Festival of Motorcycling. The 2017 events delivered a combined economic contribution of over £30 million to the local economy and we are on track for further growth in 2018.