Petition to secure Island's maritime benefits to go before Tynwald

A petition will go before Tynwald tomorrow geared toward securing the Island maritime benefits beyond the 12 nautical mile territory currently assigned.

In 1991 the Island agreed to the 12 mile territory in exchange for £800,000 and the end of a sharing agreement, where we received a share of petroleum licence fees and royalties in respect of the UK Continental Shelf.

Given that nearly 33 years has passed since the last agreement was put in place, the petitioners, Keith Kerruish, and Philip Craine think it's time a renegotiation was explored.

The petition highlights the current model in Scotland whereby the Crown Estate manage all revenues accrued from activities within their territory, with the funds allocated straight to the Scottish Government.