On Air Now Feel Good 80s 7:00PM - 10:00PM Email
Now Playing The Heat Is On Glen Frey Download

Government's TT trademark made £3.6 million since 2012

The Department of Economic Development has revealed how much it's making from trademarking the TT brand.

3FM submitted a Freedom of Information request to the department asking for the figures for the past five years.

In recent months the department's found itself embroiled in rows with a number of Island organisations over charges for using the TT initials.

Now, it's revealed it's made almost £3.6 million since 2012.

The DED's responded to 3FM's request by providing figures for each of the past six financial years.

Licensing the TT trademark raised just under £250,000 between April 2011 and March 2012 - a figure that more than doubled the following year.

The amount grew steadily until 2015/16, when it leapt to £813,000 and then last year reached a peak of more than £878,000.

In the House of Keys next week, Ayre and Michael MHK Tim Baker will ask questions about the department's licensing policy.

More from Isle of Man News

Recently Played

Listen Live