KPMG Appointed as Strategic Partner for Development of Economic Strategy

Government has announced KPMG as a strategic partner to develop a five to ten year Economic Strategy for the Island.

The development and delivery of a longer-term Economic Strategy was detailed as a key pillar of the Economic Recovery Programme when it was formed last summer following the first national lockdown.

The programme seeks to protect people and jobs, provide support where it is needed, and stimulate the economy.
 
The KPMG Economic Strategy, ‘Our Big Picture’, will be constructed across five key phases; the Economic Vision, Macro Economic Research and Review, Development of Policy Levers, formulate a Strategic Framework and Establish a Monitoring Program. 

The first three phases of the project will analyse the Island’s current economy, consider models for policy change, and assess the Island’s strengths, weaknesses, opportunities and threats within a global context.

Modelling of the Island’s economy is a beneficial exercise that will help Government to implement development plans, resource and policies that contribute to a safe, green, digital future for our Island and contribute to sustainable economic growth over the next 10 years.

The KPMG team will be co-led by Dr Nicola Mazzarotto, Global Head of Economics for KPMG and Simon Nicholas, Partner at KPMG Isle of Man.

Dr Mazzarotto holds a PhD and Msc in Economics, and has over 20 years’ experience as a professional Economist. Dr Mazzarotto, based in the UK, and the KPMG economics team have worked on numerous government and local authority economic projects throughout the UK and internationally, including with other island economies.

Simon Nicholas, Partner at KPMG Isle of Man, will lead the global coordination of over 45 global sector experts and their teams whilst interacting with Government and business community stakeholders the project as local relationship partner. Simon has over 20 years of experience in advisory services and has worked with high profile clients in the London, Bermuda, Gibraltar, Channel Island and Isle of Man markets.

Further information regarding the Economic Strategy will be found shortly at: https://covid19.gov.im/economic-recovery-programme/