ECONOMIC Development Minister John Shimmin MHK will seek Tynwald approval for three new posts at next week’s sitting.
It follows internal restructuring within the department, which has led to the removal of a number of managerial, administrative and regulatory roles.
If approved the posts – head of e-gaming and two business development managers specialising in financial services – would be funded through internal savings and would be created immediately.
Mr Shimmin said: ‘I believe it is vital that the Isle of Man vigorously pursues opportunities to grow our economy and create jobs as a key element of our strategy to balance government’s budget as well as create opportunities for our people.
‘To do this effectively, my department needs a small number of individuals with specific skills and experience from the private sector.
‘This order will give my department the flexibility we need to recruit such individuals.
‘My department is working closely with the local private sector to support and grow our economy. From my meetings with industry leaders, I know that there is very strong support for the planned roles in e-Gaming and financial services.
He said: ‘I am confident that the right individuals can pay for themselves several times over in economic growth and new income for government.
‘Such additional income is particularly vital as Government strives to balance its budget while minimising cuts in services and increases in taxes and charges.’
The department has made internal savings so the new posts can be funded within the existing budget.
He said a review ‘in recent months’ meant ‘a number of managerial, administrative and regulatory roles have been removed.
‘The changes are being implemented through retirements and redeployments in order to minimise the impact on the individuals as well as to minimise the cost to the taxpayer.’
The head of e-gaming would be responsible for leading the implementation of a new strategy in the sector, which has been drawn up with the private sector.
E-gaming currently accounts for about 8 per cent of the island’s national income.
Meanwhile, one business manager would specialise in retail financial services while the other would specialise in corporate financial services.
Their roles would be to ‘maximise the potential’ for growth in new products and new international markets, helping to maintain local businesses and jobs.
Financial services – which includes banking, insurance, funds management and fiduciary services – remain the key export-earning sectors of the island’s economy. And it accounts for 34 per cent of the island’s national income.
• Civil service wage bill down, page 16
