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Isle of Man Businesses Support UK Remaining In EU

by Jason Gorringe, Lowtax.net, London
20 June, 2016

The Isle of Man has published a report on the results of a survey of members of the island's Chamber of Commerce on the forthcoming "Brexit" referendum.

In answer to the main survey question: "If you could cast a vote in the referendum which option would you choose?", 66 percent of all respondents said they felt the United Kingdom (UK) should remain in the European Union (EU). Of the 56 percent of respondents who export to the UK, that figure rose to 75 percent, while of the 31 percent who export to the EU (excluding UK), those in support of the UK remaining in the EU rose further to 85 percent.

The report sets out how a new relationship between the UK and the EU might function, as well as explaining how other small European jurisdictions manage their relationships with the EU. It follows a report published in April this year setting out the potential implications of Brexit for the Isle of Man, which identified some areas for further work to be undertaken prior to the referendum.

Chief Minister Allan Bell said: "We cannot at this stage say with any certainty what will happen if the UK leaves the EU. Any future relationship the Isle of Man may wish to secure with the EU will depend in large part on what the UK is able to negotiate. That's why part of our planning has been to look at the alternatives to membership which may be available to the UK."

He added: "In the immediate aftermath of the referendum there may be a great deal of uncertainty and instability, and so in order to be clear about how it might impact the island we issued our first report assessing the possible implications across a broad range of areas. The second report looks a little further ahead and envisages how, following a vote to leave, the UK might position itself. This will in turn affect how we can position the Isle of Man to make the most of the new situation."


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