The government wants as many local businesses as possible to take part in a survey to calculate national income.

For the first time, Research and Development (R&D) activity will be recognised as a product in its own right when measuring Gross Domestic Product.

Economic Development Minister Laurence Skelly said: 'I would encourage Isle of Man businesses to participate as this is a survey of utmost importance. It will be central not just in calculating the island's GDP but will also inform key government planning activity, such as economic growth planning and VAT revenue sharing arrangements with the UK.

'The department is issuing the survey with the intention of getting as many returns as possible from industry. Even if a business conducts no R&D they can simply answer no and return the survey as this will help develop an average R&D by employee figure.'

The deadline is the end of this month and all data will be treated confidentially. The government saysR&D includes research and development of new and original computer software, creation of product prototypes (before commercial production) and research into the social sciences, arts and humanities.

Efficiency studies, feasibility studies and market research studies are not considered to be R&D.

Got a story? Contact Joanne on 340000 or email newsdesk@manx.net
twitter @jonewsiom