THE Island's Chief Minister has called for the support of the local business community in helping to deliver his vision for achieving a sustainable future for the Island.
Allan Bell MHK spoke to members of the business community at the Manx State of the Nation conference this morning (Friday).
At the event, which was organised by the Alliance of Isle of Man Compliance Professionals, Mr Bell emphasised that stimulating further economic growth was at the heart of his plans for the future.
He said: "As the storm clouds continue to gather around us in Europe and beyond it is vital that we develop new strategies to protect our future and do not dwell on past success.
"If we lose focus on the needs of the economy in the time ahead, either through complacency or through the distraction of our fiscal challenges, then we risk endangering our impressive achievements of the last 25 years."
The Chief Minister told the audience that the Island had solid foundations to build on with no external borrowing, a low unemployment rate, strong reserves and continued economic growth.
He also praised the "confidence and enterprise" of the Island's private sector in helping to secure such a robust economy.
Mr Bell continued: "I would like to offer my personal, and sincere, gratitude for your hard work, support and partnership as it plays such a crucial part in terms of our continued progress as a world-class international business centre.
"My ministerial colleagues and I recognise that your outstanding contribution has enabled the Isle of Man to cement its place as a well-regulated and responsible nation with a high quality corporate offering."
The Chief Minister said the Isle of Man would maintain its policy of responsive engagement with global scrutiny while always seeking to defend its own strategic interests.
He explained: "Our regulatory systems, while observing the continuing need to adhere to international best practice, must also be designed to encourage new commercial opportunities especially in the face of ever growing competition.
"The emergence of a more independent Scotland on our doorstep is a good example and one we must watch very carefully.
"There is one vital message that must never be forgotten. Without a strong and sustainable economy, delivering a strong and sustainable fiscal base, the political independence of the Isle of Man will always be vulnerable to external pressure.
"As a Manxman I am proud of what this Island and its people have achieved over the last 25 years.
"We have fought long and hard to rebuild our economy and our public finances and to defend and grow our political independence.
"I can promise you today that as long as I remain Chief Minister I will do everything in my power to protect those achievements and your futures."
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