Tynwald backs £2.4m fund to regenerate towns

A 10-year plan to boost footfall and fill empty shops, supported by a new £2.4m town and village centre regeneration fund, has been backed by Manx politicians.

The Local Economy Strategy sets out 20 goals to support the retail, leisure and hospitality sectors to improve trade and create jobs.

The plan will also see the Town and Village Regeneration Scheme (TVRS), which closed to new applicants in 2023, relaunched in April to support its delivery.

While Enterprise Minister Tim Johnston said the strategy was "bold and optimistic", some Tynwald members called for broader support for businesses.

The new funding, provisionally approved from the Economic Strategy Fund, would provide support for improving the appearance and accessibility of buildings, fitting out vacant units, and the conversion of empty units above shops for residential purposes.

The department said a newly announced Local Economy Fund (LEF) also "empowered" local authorities and other organisations to trial new initiatives or activities.

Targets for the strategy include increasing footfall in Douglas and seven towns and villages by 10%, and progress is set to be monitored using new footfall counters in towns and regular audits to assess vacancy rates.

A "dashboard" set to show the data being collected was welcomed by politicians, and Kate Lord-Brennan MHK described the strategy as "striking the right balance of making sure there is flexibility in the community and government trying to influence what happens in villages and towns".

But Jason Moorehouse MHK questioned if the cost of producing the data had "matching benefits" for existing businesses who were already "hard pressed", and Julie Edge MHK said she would prefer to see incentives to keep businesses open such as "help with energy costs" and high rates prices.

Tim Glover MHK also suggested rental costs were a "big inhibiting factor" behind the numbers of vacant properties on high streets and raised concerns about how plans to align the Minimum Wage with the living wage from October would hit smaller local traders.

Johnston said the vision was "bold and optimistic" but it had been "grounded in the realities of our island's needs and opportunities", which had been made clear during a consultation on the strategy.

The plan was "a chance to revitalise our high streets, empower our communities, and secure the long-term health of our retail, leisure and hospitality sectors", he added.

The TVRS and LEF will open for applications from 1 April and roadshows will be held across the island to discuss the support available.

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