Mann: More ‘Positive growth’ But No Feel Good Factor?


The Isle of Man Economic Development Minister, Laurence Skelly, has said the Island continues to weather the economic crisis delivering an upbeat message about the 4.5% economic growth achieved last year (see link):

One would think that with such ‘good news’ messages, which seem to come on a rapidly escalating basis, there would be some relief for the hard pressed Manx population.

Last week we had low unemployment confirmed, the Manx AA1 credit rating confirmed and three decades of growth applauded.

There cannot be many countries on the planet which have such a portfolio of economic prosperity (outside of China – and they have had problems of late).

Now one would think that when a business such as ‘Isle of Man PLC’ (as those harridans from the Chamber of Commerce like to describe it) is doing so well then we, the public, might be in line for a dividend. After all one of the Islands leading companies Manx Telecom announced how it is sharing in the good times this week –and promptly announced a big fat dividend to its shareholders!

But despite the Chief Minister, the Treasury Minister and Mr Skelly waxing lyrical about ‘our great success story’ there’s no dividend in the pipeline for the shareholders of ‘IOM PLC’.

In fact, quite the contrary, ‘stealth’ taxes abound, increases to National Insurance are mooted and social benefits for those not fortunate enough to be ‘sipping wine’ with the government and their Chamber chums are to be cut.

If the economy is doing so well why is their no feel good factor? Is the government telling the truth? Why are the media not posing some difficult questions?

Have we a soundly based economy or a house built of straw!


Issued by: The Celtic News



The Celtic League established in 1961 has branches in the six Celtic Countries. It promotes cooperation between the countries and campaigns on a range of political, cultural and environmental matters. It highlights human rights abuse, military activity and socio-economic issues


Yahoo! Groups

Share this!