Making plans to ring-fence money derived from the Isle of Man’s territorial sea beds would be ‘premature’.
That’s according to the Chief Minister who says it’s not yet known if any revenue will be generated from the exploitation of the area.
Castletown MHK Richard Ronan says government should be thinking ahead and taking the lead from places like Norway whose economy has benefitted from the activity.
He says if the money was ring-fenced it could be targeted for the likes of the state pension and essential services:
Illegal immigrant turned back at Manx border can't stay in UK
Bank scammers warning as calls target Island residents
Island to extend UK VAT cut on power, says Treasury Minister
Woman thanks mystery van driver after daring sea rescue
Stay off damaged slipway in Laxey, says local authority
MHK sues attorney general and returning officer over election votes
Islanders reminded to keep challenging domestic abuse beyond October
Comments
Add a comment