Government sees 'Tesco tax' fall

Government says money from its "Tesco tax" fell by almost 10 per cent last year.

The tax on retail businesses with profits of more than £500,000 a year was introduced in 2013 amid concerns chain stores were channelling money into the UK rather than the Isle of Man.

In the House of Keys this week, Treasury Minister Alf Cannan was asked a question for written answer by Ramsey MHK Lawrie Hooper about how much the tax had raised.

Mr Cannan said last year, it brought in £1.94 million to government coffers - compared to £2.1 million the year before.