The minister for enterprise has said the LoveIOM gift card is ’a trial’ and will be closely monitored so it can be updated with feedback from various sectors.

The LoveIOM gift card is an initiative that rewards consumers for spending in local hospitality businesses.

At the House of Keys sitting earlier this week, Arbory, Castletown and Malew MHK Jason Moorhouse asked what involvement the government had in the development of the card, the support that’s being given and at what cost.

Enterprise Minister Alex Allinson said: ’This is a trial of a new way of trying to stimulate the economy of the Isle of Man.’

He added that it will be closely monitored and the government will take on feedback from a number of sectors so it can develop the card for the future.

The gift card was developed by the Department of Enterprise at the request of the Economic Recovery Group, a cross-government economy stimulus programme, and is designed to ’develop a platform that could be scaled up with further public funds that could stimulate the economy from time to time’.

Dr Allinson said: ’In terms of the support set out by government, £50,000 was budgeted for the special Black Friday launch intiative, this was announced when the gift card was launched on a pre sale basis on November 26. A further £500,000 has been put aside for a weeknight incentive scheme beginning in January called "why not weekdays".

’The LoveIOM gift card seeks to encourage residents to support Isle of Man businesses and so government funding is indirectly provided to businesses that have registered with the scheme.

’Last week, over £9 million of further Covid support was announced to help businesses across a range of sectors through the winter period. The LoveIOM card is just one of the methods of support offered as part of a wider winter package of support.’