Treasury proposes the creation of a £100m Economic Recovery Fund to bolster businesses, promote innovation, create training and employment opportunities, and invest in the domestic economy.

*The Council of Ministers has commissioned a series of projects to stimulate the internal economy, create and protect employment, and provide investment in the island.

*Research will be undertaken into how the Island can seize on opportunities presented by the crisis and, looking ahead, be well-placed as the global economy settles over the coming months.

*Tynwald members will be asked to approve the transfer of £17.5m from the contingency fund.

*The Salary Support Scheme and MERA have been extended for certain sectors through to September, providing further direct support to those involved in travel, tourism, and fisheries.

*A £10m Working Capital Loan scheme will also be available.

*Treasury will seek approval from Tynwald Members to set up a £250m revolving credit facility over two years and establish an alternative source of liquidity, if required, to meet future financial challenges as they arise.

*A review of the capital programme has been undertaken, with increased focus on an acceleration of schemes that support the economy and local employment market.