Chief Minister outlines state of the nation

The Chief Minister has outlined the 'state of the nation' and how the Island is weathering the ongoing economic storm.

Allan Bell spoke at a pre-Budget address organised by the Alliance of Isle of Man Compliance Professionals on Friday.

He outlined the fresh challenges on the horizon as well as giving an update on the FATCA tax agreement with the UK.

His speech underlined our relatively healthy situation, with no recession, three per cent growth, low unemployment and £1.5 billion in reserves.

However Mr Bell says the next year will be a mixed bag for the Island:

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