Minister offers to resign after Sefton loan is deemed unlawful

Tuesday, 17 June 2014 00:00

The Economic Development Minister has offered to resign – after it emerged the controversial Sefton bailout deal was unlawful.

In this morning’s sitting of Tynwald John Shimmin told the court government had received legal advice last night showing it had got it wrong.

Last year it loaned The Sefton Group £1.3 million of public money and entered a landswap deal worth £3.2 million.

His resignation has not been accepted by Allan Bell - however Michael MHK Alf Cannan has called for an emergency debate on the issue this afternoon.

John Shimmin told the court he got it wrong:

More from Isle of Man News

Use your Love IOM card credits before July, urge gov

A government gift card scheme is urging people to spend their outstanding balance - or face losing it.
Almost 200 calls made to mental health charity's crisis line

An Island mental health charity says 198 calls were received over the last six months to its crisis line.
Exhibition featuring local artist's work on display from this weekend

An art exhibition featuring a local artist will open this weekend.
School suspensions being looked into, says MHK

More youngsters are being suspended from school, and the Education Department is looking into it.
Manxman to be swapped with Ben-my-Chree on Thursday

The Steam Packet Company says there's a slight change to its schedules this week.
Teeth survey for children aged five launched

Public Health has launched a survey to find out about five-year-old children's teeth.
Treasury Minister says VAT cuts for hospitality means cuts or tax increase elsewhere

The Island's Treasury Minister says a VAT cut for hospitality businesses would mean service cuts or more taxes elsewhere.
Commissioner ‘refutes’ allegations of misrepresenting Roundhouse access issues

Braddan Commissioners says it ‘refutes’ any allegations that it’s acting in ‘bad faith’ or ‘peddling misrepresentations’ about access to The Roundhouse.