Appointment of consultants didn't break financial rules says Minister

Treasury Minister Eddie Teare says he believes no rules were broken after consultants were appointed to look at the Island’s National Insurance fund.

Yesterday, he and chief financial officer Malcolm Couch appeared before Tynwald’s Public Accounts Committee following revelations more than £750,000 had been spent from the fund.

The committee chaired by Michael MHK Alf Cannan wanted to know why there’d been no tendering process or waiver issued under financial regulations.

After the sitting, Mr Teare said neither had been necessary under the government’s own rules: