The Chief Minister has defended government’s decision to bail out the Sefton Group in the House of Keys today.
Onchan MHK Peter Karran asked him to make a statement on why a decision has been taken to loan the group money.
In a heated debate with other politicians Allan Bell said he believed it was in the national interest to lend £1.3 million and buy a car park off the group for £3.2 million.
Mr Bell said the decision was based on three points - the core business was profitable and sustainable, that the failure of the business would adversely affect the Island and that hundreds of jobs would be at risk.
He says it isn’t an underhand decision:
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