Minister calls for 'time' to digest Sefton news

Wed, 18 Jun 2014

Eddie Teare MHK

How will government proceed following yesterday's revelation that the Sefton loan deals were unlawful?

The Council of Ministers has until July's sitting of Tynwald to formulate a response to the findings of the independent legal review.

It was deemed that given the Sefton Group was in tax arrears it was not an eligible business to qualify for a loan under the Enterprise Act.

Economic Development Minister John Shimmin yesterday offered his resignation over the matter - something that was not accepted by the Chief Minister.

Treasury Minister Eddie Teare says time is definitely needed: