An unprecedented interest in people looking to move to the Isle of Man could drive the island’s economic recovery post Covid-19.

Chief Minister Howard Quayle was taking questions during an online public Q&A when he said the Department for Enterprise had seen an increase in the number of people interested in looking to move to the island.

The success of our island in containing the pandemic, coupled with the island’s low crime rate has made moving to the Isle of Man even more of an attractive prospect and it could also provide the Manx economy with a much-needed boost.

Mr Quayle said: ’The Department for Enterprise is telling me at this moment in time they are getting unprecedented levels of interest of people wanting to move to the Isle of Man because it’s handled the Covid-19 situation really well and we’ve got the lowest crime rate in the UK and second lowest in Europe.

’It is seen as a safe place to be and that may well be something that we need to push more and therefore we can grow our way out of this.’

Up to £100m has been committed to saving as many jobs as possible and holding up the industries worst affected by the Covid-19 pandemic.

Mr Quayle was asked how the island will find a way to recover and whether tax increases were on the horizon.

However, he said merely increasing taxes is not a guaranteed recipe for success.

The Chief Minister pointed to how increases in income tax in the UK has historically led to lower tax revenue as the rich moved either themselves or their money to other jurisdictions. Growing the number of economically active people is viewed as vital across government and is a key target for the DfE.

The average age of Manx residents is regularly recorded as one of the highest in the world.

The department’s work, focused on its Locate.im scheme, includes national insurance holidays to new workers, the Employee Relocation Incentive which pays towards an employee’s first year’s salary and helping to arrange moving businesses or families to the island.

Last week in the Keys, Mr Quayle confirmed that the Isle of Man is exploring the potential of welcoming new residents looking to leave Hong Kong, itself a prominent offshore business centre, as the Chinese government seeks to tighten its grip.

He said: ’I can confirm to date that the Council of Ministers has not discussed this particular development although I am aware that the Minister for Enterprise had been considering this issue and it has come up in discussions with industry as part of Locate planning.

’I know he is considering how best to capitalise upon any opportunity that may emerge.’