Scores of delegates attended a summit addressing the causes of the island’s rising cost of living today.

The summit, organised by the Ministry of Home Affairs, featured a series of discussions between economics experts, importers, retailers and others on subjects such as food affordability, energy costs and health reform.

Addressing a capacity audience at the Hamilton Princess & Beach Club, home affairs minister Alexa Lightbourne said the summit would also seek solutions to what she described as “a constant talking point and a weight that many can no longer not carry”.

She said: “Know that the decision to host this summit, at this time, so soon after being given our mandate in February was a thoughtful one. We accepted that there was a clear call for immediate action.

“I invite you to attend this cost-of-living summit not just as passive attendees; I invite your creativity and engagement as we refine our solutions.

“We embark upon this journey armed with a collection of data and insights that contextualise the lived experiences and business perspectives that often are presented in isolation.

“This summit seeks to evidence how a community, bruised by costs and worn thin by survival, decided not to wait for change but to become it.“

Ms Lightbourne said that the Government needed outside input because “the Ministry of Home Affairs does not have a Department of Cost of Living”.

She said: “But what we know is that we must do things differently to get different results. We also know that it is important to understand the complexity of this challenge, and so we have stretched ourselves beyond all former responsibilities and committed to getting you all, key stakeholders, together in a room.

“This ministry is determined to deliver. It is our hope that you will leave feeling equally charged with determination.

“We have devised a data-informed, stakeholder-driven, strategic framework for engagement with the community, the third sector and business stakeholders.“

Emphasising the need for collaboration, she added: “This summit is a bold invitation — to abandon the worlds and perspectives that divide us, and build on what binds us. To own our contributions to our challenges and be guided by belief.

“And so I invite you to gather your tools of participation and come and build with us.”

What followed was a series of eight panel discussions featuring a wide range of experts in which problems were shared and solutions aired.

Ms Lightbourne wrapped up the day of debates with a confident message.

She said: “The Ministry of Home Affairs took a risk by convening this summit but we leave here today reassured by our work.

“Today we were confronted not only by the impact of costs, but also the cost of delaying, the cost of division and the cost to families who fall through the cracks.

“I feel reassured by those who were in the room and I know we are all leaving feeling compelled to duty.”