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The Isle of Man's Chamber of Commerce warns a 9.9% minimum wage hike may cause economic crisis, job losses, and business closures.
The Isle of Man Chamber of Commerce warns a planned 9.9% minimum wage increase for April 2026 could trigger a national economic crisis, risking widespread job losses and business closures.
Citing ongoing financial strain from inflation, rising costs, and wage compression, the chamber urges a pause, calling for the rise to be aligned with inflation instead.
It recommends revising the wage-setting methodology, reinstating youth wage brackets, and supporting small businesses, stressing that the current path may harm low-paid workers by forcing employers to cut hours or staff.
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La Cámara de Comercio de la Isla de Man advierte que un aumento del salario mínimo del 9,9% puede causar crisis económica, pérdidas de empleo y cierre de negocios.