Michael MHK says compensation fund isn't necessary

It's proposed the money to create the fund will come from government reserves which are due to fall from £400m to £189m by next March.

The Pinewood Studios investment will also be funded from reserves and £55m will go into the general revenue account.

Alf Cannan has raised concerns about the depletion of the reserve fund.

He doesn't think the expenditure will benefit the economy in the long term.

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