As the Island’s largest private sector employer, H&B has a policy of encouraging higher pay through sustainable means, through investment in staff training or from rewarding productivity. While we are also keen to ensure that the Minimum Wage is appropriate and encourages people into work, it needs to be affordable for employers. The Manx employers most affected by this minimum wage rise are also the most vulnerable in the current climate, namely; Retail, Hospitality, Leisure, Cleaning and Care.
H&B, alongside other Manx companies in these sectors, has continually advised the Isle of Man Government that, in the current economic conditions, the proposed £7.50 bracket could result in job losses, less investment in training, price increases and may even result in some Isle of Man businesses being forced to close.
Determining the Minimum Wage needs to be evidence-based and not politically driven. Furthermore, the Isle of Man should not simply follow the UK Government’s policies on Minimum Wage which are already proving harmful. The Isle of Man Government needs to listen to the practical realities faced by Manx employers and urgently needs to devise polices to offset this additional burden to avoid what could, in reality, be harmful for Manx workers.