.jpg)
Treasury Minister Eddie Teare is admitting ratepayers in the Isle of Man could be left with a hefty bill, as a result of the loss of the Island's AAA sovereign credit rating.
International agency Standard and Poor's downgraded the Isle of Man's status from AAA to AA+ in November.
Under a Treasury agreement with the Isle of Man Bank, the downgrade has triggered an increase in the rate of interest for local authority borrowing.
Mr Teare understands the concerns which have been expressed:
Regulator finds Manx Telecom not in breach of obligations following incident that affected 999 calls
Two unrelated incidents occurred on 6 and 8 January 2024
RTLC defends taxi tariff changes
Prices have gone up and a higher overnight rate is now implemented from 11pm
King Gaming's license suspended amidst criminal investigation
Gambling Supervision Commission publishes statement
Ministers to meet with LVA to discuss hospitality concerns
Comes after concerns raised about the issues facing the industry
Looneys of Ramsey to close
Number of factors behind the decision
Trade is good, but it's still a struggle to make a profit, says local business
Comes after calls for gov't to do more to help hospitality sector
